Home Food Service Ruchi Soya Q3 profit up by 3% at Rs 234 crore

Ruchi Soya Q3 profit up by 3% at Rs 234 crore

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Edible oil major Ruchi Soya Industries Ltd reported a 3% increase in its net profit to Rs 234.07 crore for the quarter ended in December 2021, an official statement highlighted.

Its net profit stood at Rs 227.44 crore in the year-ago period.

Total income rose by 41 % to Rs 6,301.19 crore in the third quarter of this fiscal year from Rs 4,475.59 crore in the corresponding period of the previous year, according to a regulatory filing.

The company’s statement also highlighted that they have strongly positioned themselves with diversified portfolio of products to capitalize on the trend of shift in consumer preferences towards trusted and branded packaged foods amid the Covid-19 pandemic.

The company plans to expand its existing product portfolio of nutraceuticals products, the filing said.

Ruchi Soya’s portfolio of brands like Ruchi Gold, Mahakosh, Sunrich, Nutrela , Ruchi Star and Ruchi Sunlight continues to witness good response.

Ruchi Soya has over 56,000 hectares under oil palm cultivation engaging with more than 39,000 farmers across nine states in India. The company is also engaged in wind power generation business out of which 19 per cent is used for captive consumption.

Sources had said last week that Ruchi Soya, which is owned by Baba Ramdev-led Patanjali Ayurveda, is likely to hit the capital market with its follow-on public offer (FPO) by the end of this month to raise up to Rs 4,300 crore.

(PTI)