Yoga guru Ramdev’s company made huge profits
Business Business: Baba Ramdev-led Patanjali Ayurveda’s total revenue grew 23.15 per cent to Rs 9,335.32 crore in the previous fiscal. This includes proceeds from the offer for sale (OFS) of Patanjali Foods (formerly Ruchi Soya) and other units of the group, a filing with the Registrar of Companies said. Patanjali Ayurveda’s other revenue stood at Rs 2,875.29 crore in the financial year 2023-24 as against Rs 46.18 crore in the same period last year. Operating profit fell 14.25 per cent to Rs 6,460.03 crore in the previous fiscal. Total profit grew five-fold to ₹2,901.10 crore in FY 2023-24. Patanjali Ayurveda reported a revenue of Rs 7,533.88 crore and a total profit of Rs 578.44 crore in FY 2022-23. Total income (including other income) of unlisted Patanjali Ayurveda for FY 2022-23 was Rs 7,580.06 crore.
Sales were impacted by Patanjali Ayurveda selling its food business to Patanjali Foods on July 1, 2022. Patanjali’s grocery business includes biscuits, ghee, cereals and nutraceuticals.
Share price of Patanjali Ayurveda rose over 2% last Friday. The stock touched a high of Rs 1,799.40 during trading. The stock closed at Rs 1,790.50.
