Tasty Bite Eatables Q1FY24 Results: Net Profit Soars by Remarkable 160%

Tasty Bite Eatables stands out as a prominent figure in the realm of natural and ethnic vegetarian packaged and ready-to-eat/serve (RTE) food items. These offerings are predominantly showcased under the well-known “Tasty Bite” brand, distributed across diverse regions including the United States of America, Australia, the United Kingdom, Germany, and Canada. The company’s comprehensive assortment encompasses a variety of products ranging from entrees to ready-to-cook sauces, organic rice, and whole-grain preparations. 

Furthermore, Tasty Bite Food Service (TFS) engages in strategic collaborations with key players within the foodservice sector. This collaboration yields innovative solutions spanning sauces, meals, and frozen food categories, aligning with the evolving demands of the industry. Enhancing their product array, the “Xclusive” lineup of snacks expertly combines grains and vegetables infused with an enticing blend of global spices, adding an intriguing facet to their product range. 

Tasty Bite Eatables Ltd has recently unveiled its Q1FY24 results, revealing a remarkable surge in sales by 29%, reaching Rs 154 crore in comparison to Q1FY23. The company’s operational performance also displayed significant growth, with the operating profit soaring by an impressive 135%, standing at Rs 33 crore as compared to Q1FY23. Correspondingly, the net profit experienced a remarkable increase of 162.5% to Rs 21 crore when contrasted with Q1FY23. 

Furthermore, the company has been able to grow its sale by 10% and net profit by 3% over the past 3 years. Moreover, the company has delivered stellar returns of 42% over the past year and returns of 41% over the past 3 years. Moreover, the company has a ROCE of 13.7% and a ROE of 13.1%. 

On Wednesday, shares of the company surged by more than 2% and made an intraday high of Rs 18,033.20.  

Investors should keep a close eye on this trending stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.