Parle Biscuits' Sweet Success: Profits Double in FY24

Parle Biscuits reported a significant profit increase to Rs 1,606.95 crore in FY24, with operations revenue up by 2% to Rs 14,349.4 crore. The company experienced overall revenue growth driven by advertising and other income, amidst aggressive expansion in the biscuits and confectionery sector.

Parle Biscuits has witnessed an impressive surge in profits, reporting a twofold increase reaching Rs 1,606.95 crore for the fiscal year 2024, as per financial data from business intelligence platform Tofler. Revenue from operations also saw an uptick by 2% to Rs 14,349.4 crore.

The company's total revenue climbed 5.31% to Rs 15,085.76 crore in FY24. This growth was bolstered by additional income streams, reflecting Parle Biscuits' expanding financial footprint compared to its previous stand-alone profit of Rs 743.66 crore and a revenue of Rs 14,068.80 crore achieved in FY23.

Founded in September 1974, Parle Biscuits, a wholly-owned subsidiary of Parle Products, manufactures popular brands like Parle G. The company's FY24 advertising expenses grew by 3.23% to Rs 442.81 crore, while total expenses decreased by 2.54% to Rs 12,979.41 crore. Parle Biscuits continues to explore new opportunities in its sector, expressing a positive outlook for the future.

(With inputs from agencies.)