Latest News | Ruchi Soya Q1 Net Profit Falls 13 Pc to Rs 12.25 Cr; Balkrishna Resigns as MD
Get latest articles and stories on Latest News at LatestLY. Patanjali Group firm Ruchi Soya on Wednesday reported 13 per cent decline in its net profit to Rs 12.25 crore for the first quarter ended June 30, and announced the resignation of Acharya Balkrishna as managing director of the company.
New Delhi, Aug 19 (PTI) Patanjali Group firm Ruchi Soya on Wednesday reported 13 per cent decline in its net profit to Rs 12.25 crore for the first quarter ended June 30, and announced the resignation of Acharya Balkrishna as managing director of the company.
Its net profit stood at Rs 14.01 crore in the year-ago period.
The total income fell to Rs 3,057.15 crore durimg the first quarter this fiscal, from Rs 3,125.65 crore in the corresponding period previous year.
"Acharya Balkrishna has resigned from the office of Managing Director of the company with effect from August 18, 2020, due to his pre-occupation. The Board of Directors has accepted his resignation," the filing said.
Also Read | Redmi 9 India Launch Teased, Likely to Be Introduced as Rebranded Redmi 9A or Redmi 9C.
Balkrishna has been designated as Non-Executive Non-Independent Director, liable to retire by rotation with effect from August 19, 2020, subject to approval of members of the company. He will continue to be the Chairman of the Board.
Ram Bharat, whole-time director of the company, has been designated as Managing Director of the company with effect from August 19, 2020, till December.
Baba Ramdev-led Patanjali Group had acquired edible oil firm Ruchi Soya through an insolvency process.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)