India's Patanjali Foods Q1 profit rises as stable edible oil prices keep expenses low
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 19 2024
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Source: reuters
Patanjali Foods Reports Profit Surge: Patanjali Foods reported a threefold increase in quarterly profit, reaching 2.63 billion Indian rupees, due to stable edible oil prices and higher demand for packaged foods, despite an overall revenue drop of 7.6%.
Market Context and Future Outlook: The company benefited from reduced price volatility in the edible oil market, while larger competitors like Adani Wilmar and Marico anticipate improved sales in their upcoming earnings reports.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
