Bikaji Foods Sees Profitable Quarter Amid Rising Revenue and Growth
Bikaji Foods International Ltd reported a 1.3% increase in net profit to Rs 58.52 crore for the June quarter. The company's revenue rose 14.86% to Rs 637.05 crore, with ethnic snacks driving 75.3% of the business. Total expenses also increased by 16.7% to Rs 584.09 crore.
- Country:
- India
Bikaji Foods International Ltd, a leading snacks manufacturer, has posted a 1.3% growth in consolidated net profit, reaching Rs 58.52 crore for the quarter ending June 30, 2023. This represents a marginal increase from the Rs 57.77 crore recorded in the corresponding quarter last year.
The company's revenue from operations increased significantly by 14.86%, amounting to Rs 637.05 crore, compared to Rs 554.59 crore in the year-ago period. Despite the impressive revenue growth, Bikaji Foods' total expenses surged by 16.7% to Rs 584.09 crore during this period.
The company experienced a 7.5% growth in volume, primarily driven by its Ethnic Snacks and Packaged Sweets segments. Notably, the Ethnic Snacks division contributed 75.3% to the overall business, highlighting its significance in the company's portfolio. Bikaji Foods retains its position as India's third largest ethnic snacks maker.
(With inputs from agencies.)
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