Bikaji Foods sees 40% profit increase in Q1, revenue climbs 15% to ₹555 crore

Snacks manufacturer Bikaji Foods International Ltd on Wednesday reported a 40.2% increase in its consolidated net profit to ₹58.06 crore in the first quarter ended in June 2024.
The company had posted a consolidated profit of ₹41.41 crore in the April-June quarter a year ago, according to a regulatory filing from Bikaji Foods.

Its revenue from operation was up 15.24% to ₹555.12 crore in the June quarter. It was at ₹481.68 crore a year ago.

Bikaji Foods reported volume growth of "16.2% YoY, led by double-digit growth across categories," said an earning statement from the company.

Total expenses of Bikaji Foods in the June quarter were up 16.08% to ₹501.32 crore. Its total income was at ₹579.41 crore in the June quarter, up 18.8%.

"Our EBITDA for the quarter improved by 240 bps year-over-year, reaching 916 million, reflecting our commitment to operational efficiency and disciplined cost management," said Managing Director Deepak Agarwa.

While raw material costs increased during the quarter, proactive hedging strategies mitigated the impact on margins.

"Overall, this quarter was marked by substantial achievements in volume growth and EBITDA performance," he said.

Shares of Bikaji Foods International Ltd on Wednesday settled at ₹724.50 on BSE, up 1.81%.