Britannia net down 51%
CORPORATE SCORECARD
| Citing the reason behind the Rs 23 crore decline in profit after tax, the company said its profit was impacted by unprecedented and inordinate inflation of 15-20 per cent in commodities such as wheat, sugar, milk and edible oils. |
| "For the consumer, biscuit prices have remained firm for the last five-six years. Cost-effectiveness and technical efficiencies have significantly absorbed the extraordinary inflation in all input costs," the company stated in a statement. |
| Net profit was also impacted by the fact that the one-time exceptional income of Rs 11.7 crore available in the previous period (six months ended September 2005) not recurring in the current period, it added. |
| Besides these reasons, the company's wage bill moved up slightly, while its advertisement and promotion expenses saw a significant 43 per cent rise even as it was trying to stave off stiff competition from ITC Foods with deeper pockets. |