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Britannia Industries net profit up 25% in Q4
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SME Times News Bureau | 16 May, 2018
Britannia Industries Ltd., India's leading food company, on Tuesday
reported a 25 per cent increase in its consolidated net profit to Rs
263.16 crore in the quarter ended March 31, 2018 as compared to Rs
210.91 crore in the year-ago period.
On a comparable basis, its
revenue from sale of goods in the quarter under review, stood at Rs
2,510 crore, up by 13 per cent from Rs 2,230 crore in the corresponding
period the previous year.
The biscuit maker reported a 14 per cent rise in its net profit for 2017-18 to Rs 1,004 crore.
"We
have witnessed positive momentum in the market growth over the last few
months. Our double digit growth for the quarter is backed by a double
digit volume growth on the back of investment in brands and widening our
distribution network through focus on direct reach, rural market and
weak states. We continued our premiumization and innovation journey,"
its Managing Director Varun Berry said.
He said its international
business grew in double digits despite a slow-down in many geographies
like Middle East and Africa. While the growth in the dairy business has
also been subdued due to its focus on driving value added products and
reducing its play in the less profitable commoditised products,
profitability has improved considerably.
"On the commodity front,
prices of key raw material have seen a marginal inflation in the fourth
quarter. Our accelerated cost efficiency programme and endeavour to
leverage fixed costs have helped us improve our profitability," he said.
In
the coming year priority will be on bridging portfolio gaps in our
bakery business and other adjacent macro snacking business
opportunities, the company said.
The biscuit maker said its new
greenfield factories at Guwahati, and SEZ in Mundra for servicing export
markets have been commercialised.
"In addition we are also
setting up an integrated food park at Ranjangaon, Maharashtra and a
greenfield plant at Nepal which will be our fourth country with local
manufacturing," Berry added.
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