Bikaji Foods International Limited (Bikaji), a prominent manufacturer of ethnic snacks, has announced a remarkable surge of 163.9 per cent in its consolidated net profit, reaching INR 41.41 crore during the first quarter (Q1) ending on June 30, 2023. This impressive figure is in stark contrast to the INR 15.69 crore consolidated net profit reported in the corresponding period of the previous year, as disclosed in the BSE filing.
According to the regulatory filing, the revenue from operations for Q1 FY24 witnessed a substantial growth, surging to INR 481.68 crore from INR 418.51 crore recorded in Q1 FY23.
Deepak Agarwal, Managing Director of the company, said, “We have started fiscal year FY24 with strong double-digit value, up 15% YoY and volume growth, up 15.2% YoY in Q1, the performance was broad-based across business segments and markets.”
Agarwal added, “We have delivered a resilient EBITDA margin in Q1 led by superior mix, operating leverage and effective cost management. We remain committed on strengthening our distribution network to achieve a deeper distribution across our core and focus markets and on track to expand our direct reach to 2.4 lakhs retail stores by FY24.”