Britannia net rises by 11%

Britannia Industries, the publicly-held food company with a focus on bakery and dairy products, reported an 11 per cent increase in net profit to Rs 62 crore for the third quarter of this year compared with the corresponding quarter last year. Consolidated revenues increased 16 per cent to Rs 1,608 crore.

This takes its year-to-date December consolidated revenue to Rs 4,498 crore, growth of 13 per cent, and consolidated net profit to Rs 167 crore, an increase of 21 per cent.     

Commenting on the performance, Ms Vinita Bali, MD, Britannia Industries, said: “Our growth momentum is solid with 16.4 per cent increase in revenue during this quarter. We continue to invest in our brands & infrastructure to drive profitable growth.”

The company increased its advertising and sales promotion expenses by 40 per cent to Rs  122 crore during the quarters, but still managed to improve its operating numbers by close to 7 per cent to around Rs 80 crore.  The Nusli-Wadia controlled company has been actively innovating, to offset the inflation with a slew of product variations, which has been delivering the growth.