Britannia's net profit up by 74.2 percent in 2014-15

Food company Britannia Industries Ltd on Thursday said its consolidated net profit in 2014-15 increased by 74.2 percent at Rs.688.6 crore against Rs.395.4 crore during 2013-14.

During the period under review, the company's net consolidated revenue surged by 13.7 percent at Rs.7,858.4 crore compared to earnings of Rs.6.912.7 crore in 2013-14.

The net profit for fiscal 2014-15 includes Rs.124 crore of net profit from the sale of land and building. Excluding this one-time component, the profit margin in the review period stands at 42.9 percent.

"We continued the growth momentuma and expansion in operating margin despite no pickup in the market growth. This was achieved through strengthening of our fundamental building blocks with increased depth in distribution; tight management of our fixed costs and though increased cost efficiencies," the company's managing director, Varun Berry said in a statement.

In the fourth quarter of the fiscal, the company's net profits rose by 55.4 percent at Rs.167.3 crore compared to Rs.107.7 crore in the corresponding timeframe in 2014.

During Q4, the net revenues stood at Rs.2,063.6 crore - a rise of 13.9 percent against Rs. 1,812.4 crore in the equivalent timeperiod last year.