Patanjali Foods sinks 5 percent as sellers flee
Patanjali Foods Limited saw its stock price tumble more than 5 percent on Monday after releasing quarterly financial results, with shares hitting a session low of 565.25 rupees. The consumer goods manufacturer founded by yoga instructor Ramdev disclosed its earnings for the three months ending in September on Friday.
The edible oil and fast-moving consumer goods producer posted net income of 516.69 crore rupees during the second quarter, representing a 67 percent jump from 308.58 crore rupees recorded during the corresponding period last year. Total revenue climbed to 9,850.06 crore rupees from 8,132.76 crore rupees. The company generated an annual profit of 1,300.7 crore rupees during the 2024-25 fiscal year.
Investment firm Jefferies assigned a buy recommendation with a 700-rupee price target, citing robust quarterly performance driven by gains in food and packaged goods divisions. Analysts noted that cooking oil market conditions have stabilized while household and personal care segments maintain steady growth. The firm expects stronger demand during the latter half of the year following goods and services tax reductions. Antique Stock Broking maintained its buy rating and lifted its price objective to 670 rupees from 656 rupees while keeping earnings projections unchanged through fiscal 2028.
