New Delhi: Acharya Balakrishna, considered very close to Baba Ramdev, has resigned from the post of Managing Director (MD) of Ruchi Soya. The reason for this is being attributed to his 'busyness elsewhere'. He has been appointed as non-executive independent director of the company with immediate effect from 19 August.

Patanjali Group bought Ruchi Soya in the insolvency process. Ruchi Soya serves to prepare edible oil, soy products etc. While giving information to the stock market, Ruchi Soya has told, 'Acharya Balakrishna has resigned as Managing Director with immediate effect from August 18, 2020 due to his other engagements. The board of directors has approved his resignation and freed him from the job of managing director.'

The interest of Patanjali Group company Ruchi Soya decreased by 13 percent in the June quarter. The company has announced the June quarter results on Wednesday. During this period, the company's profit fell by 13 percent to Rs 12.25 crore, compared to Rs 14.01 crore a year ago. The company's total revenue fell to Rs 3057.15 crore in the June quarter, from Rs 3125.65 crore in the same quarter last year. Ram Bharat, the company's full-time director, has been appointed as the new MD of the company.

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