Haridwar-based Patanjali Ayurved Ltd has reported a 21.56 percent increase in standalone net profit at Rs 424.72 crore for financial year 2019-20, according to data provided by business intelligence platform Tofler.
According to a PTI report: The company had reported a net profit of Rs 349.37 crore for the 2018-19 financial year, it said.
While the company’s revenue from operations was at Rs 9,022.71 crore, up 5.86 percent, for the financial year ended on March 31, 2020. It was at Rs 8,522.68 crore in the year-ago period. Its total revenue was at Rs 9,087.91 crore in FY 2019-20, as against Rs 8,541.57 crore in the financial year ended March 31, 2019.
Total expenses of Patanjali Ayurved were up 5.34 percent to Rs 8,521.44 crore. Profit Before Tax of the yoga guru Ramdev-promoted organisation was up 25.12 percent to Rs 566.47 crore for FY 2019-20. It was Rs 452.72 crore in the year-ago period, as per the data.
Its revenue from ‘other income’ was up three fold during the fiscal under review to Rs 65.19 crore, from Rs 18.89 crore of the FY 2018-19.
Commenting on the results, Swami Ramdev told PTI: “Last fiscal was very challenging for us, in which we had acquired Ruchi Soya. Despite financial challenges, we have worked uninterrupted.”
While talking about the outlook, Ramdev said this fiscal, the company would have “unparalleled growth” as consumers are having more trust on Patanjali’s product because of “purity and faith” along with its “affordability”.
“We would have higher growth this fiscal than the previous fiscal and higher turnover,” he said.
Some segments as Divya Pharmacy, its ayurvedic manufacturing unit, would have higher growth.
“Even during the lockdown, except some days when movement was not allowed, we have not stalled our services. Other companies took one to two months to handle the situation… we started the production from the first day as we have our own transportation and distribution lines,” he told PTI.
Patanjali Ayurved is mainly into fast-moving consumer goods (FMCG) business and ayurvedic medicines.
The company’s biscuit, noodles, dairy businesses, solar panel, apparel businesses and transportation are not part of Patanjali Ayurved.
In December last year, the Haridwar-based group had completed the acquisition of bankrupt Ruchi Soya for Rs 4,350 crore, maker of soya food brand Nutrela through an insolvency process.