Companies

Patanjali net rises 22% to ₹425 cr in 2019-20

Our Bureau New Delhi | Updated on November 13, 2020

Baba Ramdev   -  -

Patanjali Ayurved Ltd posted a standalone net profit of ₹424.72 crore in the financial year 2019-20, up nearly 21.56 per cent compared to the previous fiscal year, according to data sourced from business intelligence platform, Tofler.

The Baba Ramdev-led company had posted a standalone net profit of ₹349.37 crore in the financial year 2018-19. Revenue from operations grew by 5.86 per cent to ₹9,022.71 crore in the financial year 2019-20 from ₹8,522.68 crore in previous financial year.

The company’s total expenses for the financial year under review stood at ₹8,521 crore.

In December last year, the company completed its first major acquisition of Ruchi Soya for about ₹4,350 crore through proceedings under the insolvency and bankruptcy resolution. This gave Patanjali access to key brands in the edible oil space, manufacturing plants as well as helped strengthen its distribution network. Ruchi Soya is known for brands such as Mahakosh, Ruchi Gold and Sunrich in the edible oils space and soya chunks brand Nutrela.

Earlier this year, Patanjali decided to extend brand Nutrela to three new segments. This includes premium edible oil called Nutrela Gold, Nutrela Honey and Nutrela high-protien atta.

In recent times, Baba Ramdev has sharpened his focus on the e-commerce space. The company decided to launch the “OrderMe” app to sell Swadeshi products. The app which went live in May, sells Patanjali’s own products to connect consumers to neighbourhood stores selling Indian products.

Published on November 13, 2020

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