Patanjali revenue up marginally in FY20, net profit rises 22%

By: |
November 14, 2020 3:30 AM

Net profit increased 22% to Rs 424.72 crore in FY20. The company managed to keep a check on total expenses, which increased by a mere 5.34% to Rs 8,521.44 crore during the year.

In an interview to FE last year, managing director and co-founder Acharya Balkrishna had said the company was working to plug gaps in the supply chain and expected to post decent revenue in FY20.

Patanjali Ayurved’s revenue from operations increased marginally to Rs 9,022.71 crore in the year up to March 31, 2020, the company’s filings sourced from business intelligence platform Tofler showed. Revenue stood at about Rs 8,522.68 crore in FY19.

Net profit increased 22% to Rs 424.72 crore in FY20. The company managed to keep a check on total expenses, which increased by a mere 5.34% to Rs 8,521.44 crore during the year.

In an interview to FE last year, managing director and co-founder Acharya Balkrishna had said the company was working to plug gaps in the supply chain and expected to post decent revenue in FY20. “We have had fast growth, but we did not have proper planning and strategy in place to sustain that,” Balkrishna had said.

Revenue from operations had grown by nearly 140% in FY16 and by 86% in FY17, but had dipped by 9% in FY18 and has since been growing only marginally. “Our competitors have pushed natural and Ayurved products into the market, which did impact sales to a certain extent. But we are recovering,” the MD & CEO had said.

Patanjali, which completed acquisition of Ruchi Soya in a Rs 4,350 crore deal in December 2019, aims to record a joint turnover of Rs 35,000 crore-Rs 40,000 crore in the current financial year. Ruchi Soya’s total revenue stood at a little over Rs 13,000 crore in FY20. “In the next five years, we would have a turnover of around Rs 50,000 crore to Rs 1 lakh crore and will become the largest FMCG company, replacing HUL,” yoga guru Baba Ramdev had said earlier this year.

The firm expects a three-fold growth after the acquisition, becoming a major player in the edible oil category, according to media reports.

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