Britannia Managing Director Varun Berry

Berry, who was serving as the Executive Vice-Chairman and MD at Britannia, also got re-designated as the CEO in May following Rajneet Kohli's resignation in March

Britannia had previously flagged rise in popular demand for packaged food and confectionery items such as croissants, wafers and flavoured shakes

Varun Berry says gradual demand recovery will continue; company plans limited price hikes and expects quick commerce sales to double in three years

Kohli's last day at the company is March 14

During the quarter, the food major also implemented price reductions and introduced consumer promotions for its key brands

He also said that the company is rapidly evolving in digital marketing and is leveraging digital in e-commerce

In FY22 and FY23, the company increased prices in order to pass on rising raw material costs to the consumer

Berry told Business Standard in an interview that the company was aiming to increase its revenues from cheese products by five times within the next five years

Berry will continue the hold of managing director at the company, the company said in a stock exchange filing

The management said it would hike prices by 10 per cent if the current levels of raw material prices sustain

The domestic biscuits market is estimated to have grown between 15-17 per cent in Q1, led by in-home consumption in urban areas and migrants making their way back to the countryside.

Necessary permits need to be immediately issued to all of them, said Britannia Industries MD Varun Berry.

Britannia termed the speculations as 'false' as well as 'incorrect and baseless'

The Bengaluru-headquartered company's Managing Director Varun Berry tells that with strong domestic growth, the firm will continue to expand into newer categories