Bikaji Foods International Limited on Monday posted second quarter profit for the financial year 2023-24 at Rs 59.78 crore, up 46.1 per cent as comparison to Rs 40.93 crore during the same period last year. It posted revenue from operations at Rs 608.69 crore, up 5.5 per cent on-year. The company had recorded revenue of Rs 576.97 during Q2FY23. The company EBITDA stood at Rs 89 crore, up 39 per cent on-year.
Bikaji Foods recorded a total income of Rs 614.66 crore during the quarter ended September 2023, up 5.5 per cent on-year from Rs 582.67 crore during the corresponding quarter of last year. However, total expenditure incurred during the quarter was at Rs 539.48 crore, up 2.4 per cent as against Rs 526.84 crore during the quarter ended September 2022.
The company also announced the appointment of Sunil Sethi as Additional (Non-Executive Independent) Director on the Board the Company for a period of 5 years effective from November 06, 2023.
Sunil Sethi is a corporate connoisseur with over three decades of multi-category experience in the FMCG & Alcoholic beverages industry. With expertise in sales, marketing, strategy, and general management across international markets, Sunil Sethi has held key roles in blue-chip Indian & multinational organizations, including Wipro Consumer, Cadbury India (now Mondelez), Diageo, Colgate Palmolive, Kelloggs & Fonterra.
Sunil Sethi sits on the Boards of Modenik Lifestyle Private Limited as Whole-time Director. “Having worked across the Asia Pacific, Sub-Sahara Africa, and some Central Eastern Europe markets, he deeply understands consumer, customer, trade & cultural nuances. He brings in proven expertise in leading start-ups & growing mature businesses,” the company stated in a regulatory filing.
He holds a commerce graduation degree from Delhi University and is a master’s degree holder in Management Studies from Mumbai University. He currently serves as an Advisor to the New Zealand Trade & Enterprise (NZTE) Beachhead Network and External Advisor with Bain Consulting.