FMCG major Britannia Industries today posted 25 per cent increase in its consolidated net profit at Rs 264 crore for the fourth quarter ended on March 31, 2018, on the back of double digit volume growth during the period.
The company had reported a net profit of Rs 211 crore for the same period of previous fiscal.
Total income of the company rose to Rs 2,581.93 during the fourth quarter as compared with Rs 2,349.63 crore in the same period of previous fiscal, Britannia Industries said in a regulatory filing.
For the year ended March 31, the company posted a net profit of Rs 1,004 crore, as compared with Rs 885 crore in 2016-17, an increase of 14 per cent.
Total income increased to Rs 10,156.47 crore for the year, as against Rs 9,474.65 crore in 2016-17.
"We have witnessed positive momentum in the market growth over the last few months. Our Double digit growth for the quarter is backed by a double digit volume growth on the back of investment in brands and widening our distribution network through focus on direct reach, rural market and weak states," Britannia Industries MD Varun Berry said.
The company's international business grew in double digits despite a slow-down in many geographies like the Middle East and Africa, he added.
"While the growth in dairy business has also been subdued due to our focus on driving value added products and reducing our play in the less profitable commoditised products, profitability has improved considerably," Berry said.
In the coming year priority will be on bridging portfolio gaps in bakery business and other adjacent macro snacking business opportunities to ensure the company stays ahead of market and achieve profitable growth, he added.
The company's board recommended a dividend of 1,250 per cent, Rs 25 per share of Rs 2 each, for the financial year ended March, 31.
Shares of the company today ended 0.19 per cent down at Rs 5,448.65 on the BSE.
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