Britannia to raise prices by 5-10%

With rising input costs, Britannia will raise prices across its products by five to 10 per cent, said Vinita Bali, managing director, at the sidelines of an event of the Britannia Nutrition Foundation.

Rising input cost has been taking a toll on its bottom line from the past few quarters. The company posted a 30 per cent dip in its net profit in the first quarter of 2010-11 over the corresponding period last year, even as net sales jumped 25 per cent.

Many other fast moving consumer goods companies have passed on input cost to consumers lately. Hindustan Unilever raised its soap prices by five to six per cent. Marico raised the prices of its flagship Saffola and Parachute brands by three to five per cent.

Bali said the company was looking at new categories. She refused to share any details.

Britannia had created the Britannia Nutrition Foundation a year earlier to collaborate with various agencies on malnutrition challenges.