Bikaji Foods Q2 Profit Up 14.7% | Revenue Rises 18.5%

New Delhi, Oct 24 (PTI) Bikaji Foods International Ltd on Thursday reported a 14.72 per cent increase in consolidated net profit at Rs 68.58 crore in the second quarter ended September 30, 2024 helped by a surge in demand for snacks and packaged sweets during the festive season.

The snacks manufacturer had posted a consolidated profit of Rs 59.78 crore in the July-September quarter a year ago, Bikaji Foods said in a regulatory filing.

Its total revenue from operations was up 18.48 per cent to Rs 721.17 crore in the September quarter. It was at Rs 608.68 crore a year ago.

"Revenue from operation grew by 18.5 per cent year-on-year with volume growth of 15 per cent year-on-year," according to the earnings statement.

Total expenses of Bikaji Foods in the September quarter were up 17.9 per cent to Rs 636.03 crore.

"This quarter we have witnessed a significant jump in revenue and profit margins. This surge in growth is due to the demand in Ethnic Snacks and Packaged Sweets on account of Festive seasonality impact," Managing Director Deepak Agarwal said.

Overall contribution of packaged sweets has jumped 17.5 per cent this quarter, which is again due to festive play, he added.

Bikaji Foods International is India's third largest ethnic snacks manufacturer and the second fastest growing company in the Indian organized snacks market.

Shares of Bikaji Foods International Ltd on Thursday settled at Rs 835.85 on BSE, down 2.5 per cent.