Patanjali Ayurved sees revenue and profit increase in FY24 (#1681495)

Ayurveda inspired fast moving consumer goods business Patanjali Ayurved reported that its total profit increased fivefold in the 2024 financial year to total Rs 2,901.10 crore as its total income also rose by 23.15% during the year.

Patanjali Ayurved saw its total income touch Rs 9,335.32 crore in the 2024 financial year, reported the Press Trust of India, citing a filing by the business at the Registrar of Companies. The company’s income was boosted by its ‘other income’ category which rose from Rs 46.18 crore in the 2023 financial year to Rs Rs 2,875.29 crore in the 2024 financial year. This category includes income from other group entities and from the offer for sale of Patanjali Foods, which was previously named Ruchi Soya.
 
However, Patanjali’s revenue from operations, which is mostly made up of income from net sales, declined by 14.25% year on year at Rs 6,460.03 crore in the 2024 financial year, India Retailing reported. This was in part caused by the fact that Patanjali had transferred its food business to Patanjali Foods in the summer of 2022, leaving its beauty, personal care, and other products with its core business. Advertising and promotional costs were up by 9.28% year on year in the 2024 financial year.
 
Patanjali is helmed by Baba Ramdev and Ballkrishna and based in Haridwar. The brand’s products range from skincare, haircare, body care, dental care, and beauty products to home care and bulk trading goods.