Bikaji Foods Q2 profit falls to ₹70.78cr amid rising costs
Business
Bikaji Foods just reported an 11.3% drop in second-quarter profit, landing at ₹70.78 crore compared to last year, even though its revenue actually jumped 13.1% to ₹921.44 crore.
The dip is mostly because costs went up, which also pulled down its EBITDA margin from 15% to 13%.
Bikaji records mixed category performance
On the bright side, Bikaji's ethnic and western snacks are doing great, with sales up by 19.7% and a whopping 44.2%, respectively.
But not everything was sweet: packaged sweets took a hit thanks to Diwali timing changes this year, and papad sales slipped due to supply chain issues.
Still, the company sounds optimistic about bouncing back in the next half of the year as festive demand picks up.