Britannia Industries Ltd. (BIL), India’s leading food company, reported consolidated revenue growth of 15% at Rs 1,773 crore for the quarter ending June 2014. Profit from operations and net profit increased by 26% and 35% on an equalised basis (after excluding the impact of additional depreciation basis revision in estimated useful lives of fixed assets as per schedule II of Companies Act 2013) at Rs 149 crores and Rs 121 crores respectively.
On a standalone basis, revenue for the quarter ending June 2014 at Rs 1,618 crore increased 15%. Profit from operations and net profit increased by 24% and 32% on an equalised basis (after excluding the impact of additional depreciation basis revision in estimated useful lives of fixed assets as per schedule II of Companies Act 2013) at Rs 142 crore and Rs 114 crore respectively.
Profit from Operations and Net profit, as reported, on a standalone basis increased 17% and 25% respectively and on a consolidated basis increased 17% and 27% respectively.
Commenting on the performance, Varun Berry, Managing Director, Britannia Industries said, “Our results are a reflection of our focus on driving consumer off-take and leveraging fundamental levers of operations to generate sustainable and profitable growth. Our team of passionate Britannians is creating a solid infrastructure and culture to take the business to new heights. Our approach is to build each element of the business block by block.”