Baba Ramdev-led Patanjali Ayurved has reported a 23.15% increase in total income to INR 9,335.32 crore in 2023-24. The growth was largely driven by other income, which includes the sale of shares in Patanjali Foods and income from other group entities.
Patanjali’s revenue from operation at INR 2,875 Cr
According to financial data, Patanjali Ayurved’s other income stood at INR 2,875.29 crore in FY24, compared to INR 46.18 crore in the previous year. The company’s revenue from operations, which includes income from net sales, declined 14.25% to INR 6,460.03 crore in FY24.
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This was due to the transfer of its food business to Patanjali Foods in July 2022. The food business includes biscuits, ghee, cereals, and nutraceuticals. Despite the decline in revenue from operations, Patanjali Ayurved reported a five-fold jump in its total profit to INR 2,901.10 crore in FY24.
Patanjali shifts home & personal care to Patanjali Foods
Patanjali Ayurved’s advertising and promotional expenses also increased 9.28% to INR 422.33 crore in FY24. The company’s total expenses stood at INR 6,434.22 crore in FY24, compared to INR 6,955.44 crore in the previous year. Earlier this year, the company announced the transfer of its entire home and personal care business from Patanjali Ayurved to Patanjali Foods for a consideration of INR 1,100 crore.
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In July 2023, the promoters of Patanjali Foods launched an offer for sale to pare their stake in the company by around 7% to meet the minimum public shareholding requirement. Patanjali Foods, a leading edible oil maker, was acquired by Patanjali Group through an insolvency resolution process. The company posted a total revenue of INR 31,961.62 crore in FY24, compared to INR 31,821.45 crore in the previous year.
