Patanjali Ayurved Ltd.’s profit rose by more than a fifth in 2019-20, despite acquiring Ruchi Soya Ltd. in what Baba Ramdev claimed was a financially challenging financial year.
Standalone net profit of the Haridwar-based company rose 21.56% year-on-year to Rs 424.72 crore in 2019-20, according to data provided by Tofler, a business intelligence platform. Revenue from operations increased 5.86% over the year ago to Rs 9,022.71 crore.
Patanjali Ayurved Results 2019-20: Key Highlights
- Total revenue was at Rs 9,087.91 crore as against Rs 8,541.57 crore in FY19.
- Total expenses rose 5.34% to Rs 8,521.44 crore.
- Profit before tax increased 25.12% year-on-year to Rs 566.47 crore.
- Other income jumped threefold to Rs 65.19 crore.
“The previous fiscal was very challenging for us, in which we had acquired Ruchi Soya. Despite financial challenges, we have worked uninterrupted,” Baba Ramdev told the Press Trust of India on Friday. But in this fiscal, the company would have “unparalleled growth” as consumers are having more trust on Patanjali’s products because of “purity and faith” along with its “affordability”, he said.
“We would have higher growth than the previous fiscal and higher turnover,” he said.
“Even during the lockdown, except some days when movement was not allowed, we didn’t stall 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 said.
Patanjali Ayurved is mainly into fast-moving consumer goods business and ayurvedic medicines. The company’s biscuit, noodles, dairy businesses, solar panel, apparel businesses and transportation are not part of Patanjali Ayurved.