<p>Consumer goods maker Patanjali Foods reported a 21 per cent rise in second-quarter profit on Thursday, aided by strong demand at its mainstay cooking oils business.</p><p>The Ruchi Gold oil maker's profit rose to 3.09 billion rupees (about $37 million) for the three months ended Sept 30, from 2.55 billion rupees a year earlier.</p><p>India's edible oil demand has been buoyant as cooking oils remain affordable despite an import duty hike, analysts said.</p>.GQG Partners increases stake in Patanjali Foods by 1.24% for Rs 835 crore.<p>Consumer goods makers have also been witnessing a pickup in demand in India's rural areas, with sales there outperforming urban areas.</p><p>Revenue from Patanjali's edible oils segment, which makes up nearly three-fourths of its total revenue, rose about 10 per cent during the quarter.</p><p>That led to a 4 per cent growth in overall revenue to 81.54 billion rupees.</p><p>However, revenue from the food and fast moving consumer goods segment fell 7 per cent, in line with sluggish demand at the industry level, the company said in a statement.</p><p>Margins on earnings before interest, tax, depreciation, and amortization expanded to 6.06 per cent from 5.34 per cent a year earlier.</p><p>Peer Adani Wilmar also reported higher second quarter profit on steady edible oils demand.</p>
<p>Consumer goods maker Patanjali Foods reported a 21 per cent rise in second-quarter profit on Thursday, aided by strong demand at its mainstay cooking oils business.</p><p>The Ruchi Gold oil maker's profit rose to 3.09 billion rupees (about $37 million) for the three months ended Sept 30, from 2.55 billion rupees a year earlier.</p><p>India's edible oil demand has been buoyant as cooking oils remain affordable despite an import duty hike, analysts said.</p>.GQG Partners increases stake in Patanjali Foods by 1.24% for Rs 835 crore.<p>Consumer goods makers have also been witnessing a pickup in demand in India's rural areas, with sales there outperforming urban areas.</p><p>Revenue from Patanjali's edible oils segment, which makes up nearly three-fourths of its total revenue, rose about 10 per cent during the quarter.</p><p>That led to a 4 per cent growth in overall revenue to 81.54 billion rupees.</p><p>However, revenue from the food and fast moving consumer goods segment fell 7 per cent, in line with sluggish demand at the industry level, the company said in a statement.</p><p>Margins on earnings before interest, tax, depreciation, and amortization expanded to 6.06 per cent from 5.34 per cent a year earlier.</p><p>Peer Adani Wilmar also reported higher second quarter profit on steady edible oils demand.</p>