Bikaji Foods Q2 Results | Net profit rises 13% to ₹69 crore, revenue up 16% to ₹704 crore
In the corresponding quarter of the previous fiscal, Bikaji Foods International posted a net profit of ₹61.2 crore, the company said in a regulatory filing. The company’s revenue from operations rises 15.8% to ₹704 crore as against ₹608 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA was up 3% to ₹89.6 crore in the second quarter of this fiscal over ₹87 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 12.7% in the reporting quarter as compared to 14.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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In Q2, Bikaji Foods reported earnings per share (EPS) of ₹2.76. The ethnic snacks segment, which constitutes 63.8% of overall revenue, saw a 10.5% year-on-year growth in revenue. Packaged sweets, accounting for 17.5% of total revenue, grew by 22.0% year-on-year.
Western snacks, making up 8.3% of the company’s revenue, experienced a 23.2% year-on-year increase. Additionally, the papad segment, contributing 4.1% to overall revenue, recorded a 26.2% year-on-year growth during the quarter.
Deepak Agarwal, Managing Director, Bikaji Foods International Ltd, said, “This quarter we have witnessed a significant jump in revenue and profit margins. This surge in growth is due to the demand for Ethnic Snacks and Packaged Sweets on account of the Festive seasonality impact.
The overall contribution of Packaged Sweets has jumped to 17.5% this quarter, which is again due to festive play. Despite facing significant inflationary challenges, we successfully maintained our margin profile while achieving robust volume growth.”
The results came after the close of the market hours. Shares of Bikaji Foods International Ltd ended at ₹840.00, down by ₹17.30, or 2.02% on the BSE.
