Baba Ramdev’s Patanjali Ayurved reported a drop in sales and profits for the year ended March 2018, hurt by increased competition and distribution issues following the roll out of the Goods and Services Tax, reported The Economic Times.
According to the report, Patanjali’s revenues fell 10 percent to Rs 8,135 crore in the last fiscal from Rs 9,030 crore in 2016-17. Net profit more than halved at Rs 529 crore in the fiscal.
The trend is really worrisome for Patanjali that has experienced its sales double annually since 2013.
Patanjali didn’t respond to an email query sent by the newspaper.
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