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Bikaji Foods reports a PAT growth of 195.39% for Q3FY23

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The company’s profit after tax (PAT) margin during the period increased to 6.2% as against 2.4% in the corresponding quarter of the last financial year

Bengaluru: Bikaji Foods International Ltd., a homegrown ethnic snacks company, reported a Profit After Tax (PAT) of Rs.3,169.39 lakh for third quarter (Q3) of the financial year (FY) 2023. The PAT margin increased to 6.2% as against 2.4% of 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% growth this year,” said Deepak Agarwal, managing director of Bikaji Foods International Ltd.

The company’s Profit Before Tax (PBT) stood at Rs. 4,161.86 lakh for Q3 FY23, and its PBT margin increased to 8.2% as against 3.6% of Q3FY22.

Revenue from operations for the third quarter of FY23 was Rs. 50,767.76 lakh as against Rs. 43,897.60 lakh of the third quarter of FY22 with a growth of 15.7%. The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin stood at 10.4% as against 5.6% of the previous year. Also, Earnings per share (EPS) for the quarter ended Q3 FY23 stood at 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% in YTD Dec-22 as compared to 8.0% in YTD Dec-21 which was result of softening of input prices,” stated Agarwal.

The snacks company also announced its financial results for the nine months ended 31 December of the fiscal year 2023. Profit After Tax (PAT) reported stood at Rs. 8,831.75 lakh in 9M FY23 as against Rs. 5,165.87 lakh in 9M FY22. The Company’s PAT margin stood at 5.9%.

Profit Before Tax (PBT) stood at Rs. 11,923.94 lacs for 9M FY23 as compared to Rs 7,155.50 lacs in 9M FY22. PBT margin stood at 7.9%.

Bikaji’s revenues from operations for the nine months ended 31 December 2022 was Rs. 150,380.81 lakh as compared to Rs.121,070.81 lakh in 9M FY22 with a growth of 24.2%.

Also, its EBITDA was Rs. 15,099.85 lakh in 9M FY23, as against Rs. 9,636.21 lakh in 9M FY22. EBITDA margin stood at 10.0% and Earnings per share (EPS) (Diluted) for the nine months stood at Rs. 3.64.

“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.

Bikaji Foods International Ltd. was launched by Shiv Ratan Agarwal in 1993. According to stock broker Groww, Bikaji Foods International Ltd is India’s third largest ethnic snacks company with an international footprint and the second-fastest growing company in the Indian organized snack market.

Today the company has operations in 24 states and four union territories in India and also exports its products to 25 international countries, including North America, Europe, the Middle East, Africa, and Asia Pacific.

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