Britannia Industries net up 55% to Rs 167 crore in Q4

The Board of Directors recommended a dividend of 800% (Rs 16 per share) for the year 2014-15

Britannia Industries on Thursday reported a 55 per cent rise in consolidated net profit at Rs 167 crore for the fourth quarter ended March against Rs 108 crore in the corresponding quarter last year.

The consolidated revenue grew 14.3 per cent to Rs 2,032 crore and operating profit during the quarter under review went up 38.7 per cent to Rs 204 crore against Rs 147 crore in the year-ago quarter.

For the second consecutive quarter, the company has recorded revenue in excess of Rs 2,000 crore on account of strong volume growth.

For the full-year ended March 2015, Britannia recorded a net profit of Rs 689 crore, a growth of 74.2 per cent. This included a profit of Rs 124 crore from sale of land and building.

“The company's operating margin expanded by 200 basis points despite no pick up in the market growth. This was achieved through strengthening of our fundamental building blocks with increased depth in distribution, tight management of fixed costs and through increased cost efficiencies,” Varun Berry, managing director, Britannia Industries, said.

The board of directors recommended a dividend of 800 per cent (Rs 16 per share) for the year 2014-15.

The company’s stock closed two  per cent lower at Rs 2,285.35 per share on the BSE.