Bikaji Foods International Ltd reported a 40.2% increase in its consolidated net profit to Rs 58.06 crore in Q1 FY24. Revenue from operations grew 15.24% to Rs 555.12 crore.
New Delhi, Jul 24 (PTI) Snacks manufacturer Bikaji Foods International Ltd on Wednesday reported a 40.2 per cent increase in its consolidated net profit to Rs 58.06 crore in the first quarter ended in June 2024.
The company had posted a consolidated profit of Rs 41.41 crore in the April-June quarter a year ago, according to a regulatory filing from Bikaji Foods.
Its revenue from operation was up 15.24 per cent to Rs 555.12 crore in the June quarter. It was at Rs 481.68 crore a year ago.
Bikaji Foods reported volume growth of "16.2 per cent YoY, led by double-digit growth across categories," said an earning statement from the company.
Total expenses of Bikaji Foods in the June quarter were up 16.08 per cent to Rs 501.32 crore.
Its total income was at Rs 579.41 crore in the June quarter, up 18.8 per cent.
"Our EBITDA for the quarter improved by 240 bps year-over-year, reaching 916 million, reflecting our commitment to operational efficiency and disciplined cost management," said Managing Director Deepak Agarwa.
While raw material costs increased during the quarter, proactive hedging strategies mitigated the impact on margins.
"Overall, this quarter was marked by substantial achievements in volume growth and EBITDA performance," he said.
Shares of Bikaji Foods International Ltd on Wednesday settled at Rs 724.50 on BSE, up 1.81 per cent.
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