Bikaji Foods International recorded a Profit After Tax (PAT) of Rs.3,169.39 lakh for the fiscal year (FY) 2023’s third quarter (Q3). The PAT margin grew to 6.2 per cent in Q3 FY22, up from 2.4 per cent in Q3 FY22.
“Taking the lead from the previous quarter, we have seen an increase in our revenue as compared to the last year with our topline delivering 24.2 per cent growth this year,” said Deepak Agarwal, managing director of Bikaji Foods International Ltd.
Profit Before Tax (PBT) for Q3 FY23 was Rs. 4,161.86 lakh, with the PBT margin increasing to 8.2 per cent from 3.6 per cent in Q3FY22.
Revenue from operations for the third quarter of FY23 was Rs. 50,767.76 lakh, up 15.7 per cent from Rs. 43,897.60 lakh in the third quarter of FY22. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin for the firm was 10.4 per cent, up from 5.6 per cent the previous year.
Furthermore, earnings per share (EPS) for the quarter ended Q3 FY23 were Rs. 1.32.
“In the current quarter, we have seen a downward trend in our key input materials leading to improved profitability. Our EBITDA margin has increased to 10.0 per cent in YTD Dec-22 as compared to 8.0% in YTD Dec-21 which was result of softening of input prices,” said Agarwal.
The snack manufacturer also released its financial results for the nine months ending December 31, 2023. Profit after tax (PAT) was Rs. 8,831.75 lakh in 9M FY23, compared to Rs. 5,165.87 lakh in 9M FY22. The PAT margin for the company was 5.9 per cent.
Profit Before Tax (PBT) was Rs. 11,923.94 lacs in 9M FY23, up from Rs 7,155.50 lacs in 9M FY22. The PBT margin was 7.9 per cent.
Bikaji’s income from operations for the nine months ended 31 December 2022 was Rs. 150,380.81 lakh, up 24.2 per cent from Rs.121,070.81 lakh in 9M FY22.
In addition, its EBITDA in 9M FY23 was Rs. 15,099.85 lakh, compared to Rs. 9,636.21 lakh in 9M FY22. EBITDA margin was 10.0 per cent, and earnings per share (EPS) (Diluted) were Rs. 3.64 for the nine months.
“We continue to focus on operational efficiencies which also reflects in a better profit margin this quarter. Our focus will be on strengthening our distribution network to achieve a deeper distribution model; and we will continue to efficiently execute our RTM strategy for distribution expansion,” added Agarwal.
