Britannia net up 36.5% to Rs 137 cr in Q3

Net sales goes up 13.7% to Rs 2,015 cr as against Rs 1,772 cr in the same quarter last year

Britannia Industries Ltd, a food products company, today reported 36.5% growth in consolidated net profit at Rs 137 crore for the third quarter ended December 2014 compared to Rs 101 crore in the corresponding quarter last year.

The net sales of the company went up 13.7% to Rs 2,015 crore as against Rs 1,772 crore in the same quarter last year.

The operating profit on an equalised basis after excluding the impact of additional depreciation basis revision in estimated useful lives of fixed assets went up 42.4% to Rs 197 crore as against Rs 139 crore in the same quarter last year.

"This quarter is a pay off of all our efforts of strengthening our building blocks with great momentum of distribution, building cost efficiencies, right sizing our fixed costs and building a strong and passionate team," Varun Berry, managing director, Britannia Industries said.

"We have made our key brands more affordable and selectively passed off the benefits of benign commodity prices to customers to ensure increased off-take in a sluggish market," he added.

The company's shares closed 0.94% higher at Rs 1,923.15 on the close of trading on BSE today.