Ruchi Soya Q1 results: Net profit falls 13% to Rs 12.25 cr; Acharya Balkrishna resigns as MD

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NEW DELHI: Patanjali Group agency Ruchi Soya on Wednesday reported 13 per cent decline in its internet revenue to Rs 12.25 crore for the primary quarter ended June 30, and introduced the resignation of Acharya Balkrishna as managing director of the corporate.

Its internet revenue stood at Rs 14.01 crore within the year-ago interval.

The entire earnings fell to Rs 3,057.15 crore durimg the primary quarter this fiscal, from Rs 3,125.65 crore within the corresponding interval earlier yr.

“Acharya Balkrishna has resigned from the workplace of Managing Director of the corporate with impact from August 18, 2020, resulting from his pre-occupation. The Board of Administrators has accepted his resignation,” the submitting stated.

Balkrishna has been designated as Non-Government Non-Unbiased Director, liable to retire by rotation with impact from August 19, 2020, topic to approval of members of the corporate. He’ll proceed to be the Chairman of the Board.

Ram Bharat, whole-time director of the corporate, has been designated as Managing Director of the corporate with impact from August 19, 2020, until December.

Baba Ramdev-led Patanjali Group had acquired edible oil agency Ruchi Soya via an insolvency course of.

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