Parle Biscuits FY24 profit jumps twofold to Rs 1,607 crore

Parle Biscuits has reported a twofold jump in profit at Rs 1,606.95 crore for FY24 while revenue from operations was up 2 per cent to Rs 14,349.4 crore.

Total revenue was up 5.31 per cent at Rs 15,085.76 crore in FY24 helped by other income, according to financial data accessed through business intelligence platform Tofler.

Parle Biscuits, a subsidiary of Parle Products, had reported a standalone profit of Rs 743.66 crore in FY23 and revenue from sale of products was at Rs 14,068.80 crore.

Incorporated in September 1974, Parle Biscuits is a leading manufacturer of biscuits and confectionery. It owns popular brands such as Parle G.

Parle Biscuits' advertising promotional expenses in FY24 were up 3.23 per cent to Rs 442.81 crore. This was at Rs 428.93 crore a year ago.

Total tax expense of Parle Biscuits was Rs 499.4 crore in FY24. Total expenses were at Rs 12,979.41 crore, down 2.54 per cent year-on-year.

Sharing the scenario and outlook, Parle Biscuits said FY24 was fulfilling and promising for the company.

"The company continues to aggressively pursue new opportunities in the field of biscuits and confectionery," it said. Parle Products owns 100 per cent stake in Parle Biscuits.