Baba Ramdev’s Patanjali Ayurved saw a significant 23.15% rise in total income during the financial year 2023-24, reaching ₹9,335.32 crore. This increase was largely due to a sharp surge in “other income,” which includes proceeds from the Offer for Sale (OFS) of Patanjali Foods (formerly Ruchi Soya) and earnings from other group entities.

According to data filed with the Registrar of Companies and accessed through Tofler, Patanjali’s other income jumped to ₹2,875.29 crore in FY24 from ₹46.18 crore in the previous year.

Advertisement

However, the company’s revenue from operations, primarily derived from net sales, saw a decline of 14.25%, dropping to ₹6,460.03 crore for the year ending March 31, 2024. This reduction can be due to the transfer of Patanjali Ayurved’s food business to Patanjali Foods on July 1, 2022.

The transferred business included key categories such as biscuits, ghee, cereals, and nutraceuticals, which contributed to the dip in operational revenues.

Despite the fall in operational income, Patanjali Ayurved reported a staggering five-fold increase in total profit, which rose to ₹2,901.10 crore in FY24 compared to ₹578.44 crore in FY23.

The company’s total income for FY23, including other income, stood at ₹7,580.06 crore, slightly lower than the latest fiscal year.

Also Read: Patanjali Naturopathy: Embrace natural healing and holistic wellness

Earlier in July 2023, the group announced the transfer of its home and personal care business to Patanjali Foods for ₹1,100 crore, consolidating its focus on other segments.

In July, the promoters of Patanjali Foods initiated a two-day Offer for Sale (OFS) to reduce their stake in the company by about 7%, fulfilling the minimum public shareholding requirements. The OFS received an overwhelming response, having oversubscription more than twice.

Patanjali Foods, a key entity within the group and a leading edible oil producer, was acquired through an insolvency resolution process and continues to play a vital role in the group’s overall performance. The company posted a revenue of ₹31,961.62 crore in FY24, a slight increase from ₹31,821.45 crore the previous year.

Patanjali Ayurved, which primarily operates in the ayurvedic and FMCG space, offers a diverse product portfolio including hair care, skin care, dental care, personal care, home care, dairy products, and bulk food trading.