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Patanjali Foods Q2 profit doubles as lower costs offset revenue drop
Patanjali Foods, the maker of Ruchi Gold oil, reported a more than doubled profit in the second quarter due to lower expenses and falling edible oil prices. The company's profit rose to INR 2.55 billion ($30.63 million), while revenue from operations declined by 8%. The decline in expenses offset the drop in revenue. Patanjali Foods CEO is optimistic that the festival season and increased consumer spends will drive growth in the next quarter.
Patanjali Foods, the maker of Ruchi Gold oil, reported a more than doubled profit in the second quarter due to lower expenses and falling edible oil prices. The company's profit rose to INR 2.55 billion ($30.63 million), while revenue from operations declined by 8%. The decline in expenses offset the drop in revenue. Patanjali Foods CEO is optimistic that the festival season and increased consumer spends will drive growth in the next quarter. 
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