Britannia FY11 net jumps 30% to Rs 134.3 cr

Food products maker Britannia Industries today posted 30.19% increase in its consolidated net profit for the year ended March 31, 2011 at Rs 134.34 crore.

In 2009-10, Britannia's net profit stood at Rs 103.18 crore, it said in a filing to the Bombay Stock Exchange.

The company's net sales for the 12 months ended March 31, 2011 increased 22.05% at Rs 4,605.16 crore as against Rs 3,772.91 crore in 2009-10.

"We have maintained healthy growth momentum and improved margin in a year of intense competitive activity and high commodity inflation.

Our focus on consumers, consumption behaviour and cost efficiency reduced complexity and improved operational efficiency," Britannia Managing Director Vinita Bali said in a statement.

The board of directors of the firm at its meeting held today has recommended dividend of Rs 6.50 per equity share of Rs 2 each to the eligible members.

"The dividend when declared will be paid or despatched on August 17, 2011," the filing added.

The remuneration committee of the board has also approved grant of 1,25,000 stock options to Vinita Bali. Each option granted will entitle her upon exercise of the options, to receive one share of the company of the face value of Rs 2.

Britannia's shares were trading at Rs 392.30 in the late afternoon trade, up 0.31% from the previous close on the BSE.