Bikaji Foods International, a manufacturer of ethnic snacks, reported a 46 per cent year-on-year (YoY) increase in profit after tax (PAT) to Rs 59.8 crore for the quarter ending 30 September 2023, compared to PAT of Rs 40.9 crore in the same period of the previous fiscal, according to a regulatory filing.
The company’s revenue from operations witnessed a 5.5 per cent YoY growth, reaching Rs 608.7 crore in Q2 FY24, up from Rs 577 crore in Q2 FY23.
Total expenses for Bikaji Foods increased to Rs 539.4 crore in Q2 FY24, compared to Rs 526.8 crore in the corresponding period of the previous fiscal, as per the BSE filing.
Bikaji Foods’ Earnings before interest, taxes, depreciation, and amortisation (EBITDA) experienced a 36.5 per cent growth at Rs 87.7 crore, with a margin of 14.4 per cent (up 330bps YoY and 80bps QoQ), compared to the EBITDA of Rs 64.2 crore.
According to the company, this growth was attributed to operating efficiency, a superior mix, and the impact of favorable raw material prices.
Deepak Agarwal, managing director of the company, commented, “Our steadfast commitment to improve profitability has successfully helped us achieve record EBITDA. A key aspect contributing to our success this quarter has been the enhanced operating efficiencies we’ve implemented across our operations. This has helped us to position for further growth and advancement across various markets. With festivities around the corner, we are confident and optimistic about the upcoming quarter.”
