Patanjali Ayurved Revenue Up 23% in FY24

New Delhi, Nov 24 (PTI) Baba Ramdev-led Patanjali Ayurved's total income has risen by 23.15 per cent to Rs 9,335.32 crore in 2023-24, helped by other income which includes OFS of Patanjali Foods (earlier known as Ruchi Soya) and income from other group entities, according to RoC filing by the company.

In FY24 Patanjali Ayurved's other income was at Rs 2,875.29 crore against Rs 46.18 crore in the year-ago period, according to financial data accessed through business intelligence platform Tofler.

Its revenue from operations, which is mainly income from net sales, was down 14.25 per cent to Rs 6,460.03 crore for the financial year ended on March 31, 2024. Revenue was impacted as Patanjali Ayurved transferred its food business to Patanjali Foods on July 1, 2022, which includes biscuits, ghee, cereals, and nutraceuticals.

It reported a five-fold jump in its total profit to Rs 2,901.10 crore in FY24.

Patanjali Ayurved reported a total profit of Rs 578.44 crore on a revenue of Rs 7,533.88 crore for the financial year that ended on March 31, 2023.

The total income of Patanjali's Ayurved, a non-listed entity, which includes other income as well was at Rs 7,580.06 crore in FY23.

Patanjali Ayurved's advertising promotional expenses were also up 9.28 per cent to Rs 422.33 crore in FY24.

Earlier this year in July, the Haridwar-based organisation Group announced the transfer of its entire home and personal care business from Patanjali Ayrurved to another entity Patanjali Food for a consideration of Rs 1,100 crore.

In July 2023 promoters of Patanjali Foods had launched a two-day OFS (offer for sakes) to pare its total stake in the company by around 7 per cent to meet the minimum public shareholding requirement. This was oversubscribed more than two times.

Patanjali Foods, a leading edible oil maker was acquired by Patanjali Group through an insolvency resolution process and Patanjali Ayurved is one of the promoters of it.

It posted a total revenue of Rs 31,961.62 crore in FY'24 as against Rs 31,821.45 crore in the preceding year.

Patanjali Ayurved mainly operates in the ayurvedic product & FMCG business comprising primarily hair care, skin care, dental care, home care, personal care, dairy products & bulk trading of food products etc.

The group has manufacturing facilities across the country and has other contract manufacturing facilities at Dehradun & Manesar. Its sales are primarily in India through independent distributors, marketing federations exclusive stores etc.