New Delhi: Patanjali Ayurved Ltd reported a whopping 21.56 per cent increase in net profit for the financial year 2019-20.
According to business intelligence platform Tofler, Baba Ramdev’s Haridwar-based company raked in a profit of Rs 424.72 crore, compared to Rs 349.37 crore for the 2018-19 financial year.
“Last fiscal was very challenging for us, in which we had acquired Ruchi Soya. Despite financial challenges, we have worked uninterrupted,” Baba Ramdev was quoted as saying by PTI.
Patanjali group acquired the bankrupt Ruchi Soya, maker of soya food brand Nutrela, for Rs 4,350 crore through an insolvency process last December.
Looking ahead, Ramdev said the company would have “unparalleled growth” during this fiscal as consumers have more trust on Patanjali’s products “because of purity and faith along with affordability.”