A Salacia composition described herein significantly reduces appetite, activates Hormone Sensitive Lipase, and manages a healthy lipid profile through inhibition of HMG-CoA Reductase enzyme. Salacia compositions described herein include of at least 12% of polyphenols, 2% of mangiferin and 1% of 25,26-oxidofriedelane-1,3-dione by weight of the composition in the form of extract. The composition is obtained by continuous solvent extraction, employing non-aqueous food grade solvents. Salacia compositions herein reduce appetite by about 18% of routine diet, when effective amounts are administered to a subject in need thereof. Effective management of a healthy lipid profile is thus possible with synergistic combination of reduction in energy intake, activation of Hormone Sensitive Lipase, and inhibition of HMG-CoA Reductase enzyme responsible for cholesterol metabolism.