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Britannia Industries Ltd has reported a 36 per cent growth in consolidated net profits at Rs 137 crore for the December quarter over last year on higher income. Net profits in corresponding period last year stood at Rs 101 crore. Consolidated revenues for the quarter grew 13.7 per cent to Rs 2,015 crore against corresponding last quarter's Rs 1,772 crore.
Net profit on a standalone basis for the December quarter was up 25 per cent at Rs 121 crore against last quarter's Rs 96 crore. Standalone revenues were up 13.6 per cent at Rs 1,834 crore against corresponding last quarter's Rs 1,614 crore. Britannia shares closed about 1 per cent higher at Rs 1,923.15 on the BSE on Tuesday ahead of the earnings announcement.
"This quarter is a pay-off of all our efforts of strengthening our building blocks with great momentum on distribution, building cost efficiencies and right sizing our fixed costs," said Varun Berry, Managing Director, Britannia Industries in a statement.
"We have embarked on our innovation journey in this quarter with the launch of NutriChoice Heavens and GoodDay Chunkies and we shall continue to delight our consumers with superior organoleptic products. We have made our key brands more affordable and have selectively passed off the benefits of benign commodity prices to consumers to ensure increased off-take in a sluggish market," Berry added.
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