Britannia Industries Q3 up 36.51% to Rs 137.28 crore

Bakery and dairy products maker Britannia Industries today reported 36.51 per cent increase in net profit at Rs 137.28 crore for the quarter December 31, 2014, driven by robust performance of its premium products.
The company had posted a net profit of Rs 100.56 crore in the same period of previous fiscal, Britannia Industries said in a said in a statement.
Consolidated total income of the company rose to Rs 2,033.28 crore during the quarter, up 13.40 per cent against Rs 1,793.01 crore in the same period of previous fiscal.
"Our premium segment is doing well despite demand being weak in the market," Britannia Industries Managing Director Varun Berry told PTI.

Biscuit sales grew only 5 per cent by volume during the quarter, he added.
Britannia Industries said labour problems at its factory at Delhi have been sorted out and the workers have been given VRS.

"We are yet to take a call on what to do with the land as it is not advisable to run factory on such a premium land," said Berry.
On the outlook, he said: "We at Britannia are extremely excited with the prospect of taking a dominant position in biscuits and growing categories like cake, rusk, dairy, international business and evaluating other adjacencies".
Shares of Britannia Industries today closed at Rs 1,923.15 on BSE, up 0.94 per cent from their previous close.