Bikaji Foods International (Bikaji) on Friday reported a rise of 15 per cent in consolidated net profit of Rs 45.99 crore for the quarter that ended 30 September 2023 as against the PAT of Rs 39.99 crore in the same period of last fiscal, the company said in a BSE filing.
The company’s total revenue from operations also rose 22.9 per cent YoY to Rs 624.15 crore in Q3 FY24 as against the revenue of Rs 507.68 crore in Q3 FY23.
Bikaji Foods‘ total expenses increased to Rs 567.78 crore in Q2 FY24 as against the total expenses of 468.36 crore in a similar period of the previous fiscal, as per the regulatory filing.
The company’s EBITDA jumped 36.1 per cent YoY to Rs 75 crore with a margin of 12 per cent (up 116 bps YoY) led by strong festive demand and favourable raw material prices.
Deepak Agarwal, managing director, Bikaji Foods International said, “This quarter, we experienced a robust demand driven by festive celebrations, marking it as our most successful period for packaged sweets. The surge in growth and demand within this segment can be attributed to a combination of factors. The festive season played a significant role, alongside improvements in our operational efficiencies and advantageous pricing of raw materials. Looking ahead, we are optimistic about maintaining this growth momentum and anticipate further enhancements in our profitability.”
