According to BSE filings, Bikaji Foods International Limited (Bikaji), the third largest ethnic snacks company in India, has shown a three-fold jump in profit after tax (PAT) at Rs 31.7 crore during the third quarter ended December 31, 2022, as against a profit of Rs 10.72 crore in the same period of the previous fiscal year 2021–22.
The company’s total revenue from operations stood at Rs 507.67 crore for Q3 FY 23 as compared to Rs 438 crore in the same quarter last year, with 15.8 percent year-on-year growth. According to the regulatory filing, its earnings before interest, tax, depreciation, and amortisation (EBITDA) in the first nine months of FY23 were Rs 150.99 crore, compared to Rs 96.36 crore in the same period last year.
According to the regulatory filing, the company’s EBITDA margin increased to 10.0 percent year-to-date (YTD) on December 22, from 8.0 percent YTD on December 21 due to lower input prices.
Deepak Agarwal, managing director of Bikaji, informed: “Taking the lead from the previous quarter, we have seen an increase in our revenue as compared to the last year, with our top line delivering 24.2 percent growth this year.” In the current quarter, we have seen a downward trend in our key input materials, leading to improved profitability.
He said, “We continue to focus on operational efficiencies, which also reflect in a better profit margin this quarter.”
Agarwal hopes that consumer demand will get better in the next quarter and the company will rally on its growth journey while maintaining healthy margins. Further, the company plans on strengthening its distribution network to achieve a deeper distribution model and expects to continue to efficiently execute its RTM strategy for distribution expansion.