ETMarkets.comMUMBAI - Patanjali Foods on Friday reported a nearly 64% year-on-year (YoY) plunge in net profit for the quarter ended June 2023 to Rs 878 crore. However, revenue from operations rose nearly 8% on year to Rs 7,767 crore.
Total expenses for the quarter rose to Rs 7,691 crore from Rs 7,038 crore a year ago.
The sharp fall in the net profit was due to muted sales growth and sharp deterioration in the operational performance.
Operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), plunged 57% on year to Rs 169 crore, and operating margin shrunk 326 basis points to 2.17%.
Total expenses for the quarter rose to Rs 7,691 crore from Rs 7,038 crore a year ago.
The sharp fall in the net profit was due to muted sales growth and sharp deterioration in the operational performance.
Operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), plunged 57% on year to Rs 169 crore, and operating margin shrunk 326 basis points to 2.17%.
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