Britannia Ind Q2 net up 19% to Rs 38 cr

Biscuit and confectionery maker Britannia Industries today posted 18.76% increase in net profit to Rs 37.85 crore in the quarter ended September 30, 2011.

In the corresponding quarter of the last fiscal, the company posted a net profit of Rs 31.87 crore, Britannia Industries said in a filing to the Bombay Stock Exchange (BSE).

During the quarter, the company's net sales stood at Rs 1,294.14 crore, up 18.16% from Rs 1,095.23 crore in the year-ago period.

"We continue to drive consumer off-take, cost effectiveness and operational efficiencies to generate profitable growth and at the same time have created a robust innovation funnel to fuel new growth," Britannia Managing Director Vinita Bali said.

During the period, while its advertising and promotion spend increased by 30.27% to Rs 100.79 crore, consumption of raw material increased by 9.4% to Rs 720.85 crore.

Scrip of Britannia closed at Rs 484.90 per share on the BSE, up 1.99% from its previous close.