For the financial year 19-20, the consolidated revenue grew by 4% at Rs. 11,444 crores
Britannia Industries Ltd. (BIL), India’s leading Food Company, reported consolidated revenue growth of 2% for the Quarter at Rs. 2,808 crores.
Consolidated Net Profit increased by 26% for the Quarter at Rs. 375 crores. As a result, for the financial year 19-20, the consolidated revenue grew by 4% at Rs. 11,444 crores & consolidated Net Profit increased by 21% at Rs. 1,403 crores.
Commenting on the performance, Varun Berry, Managing Director, said:
“After 9 months of moderate growth, we started to see growths coming back in the first 2 months of this quarter which was then hit by Covid 19 & lockdown in March impacting the revenue & net profit growths by an estimated 7-10%. In this period, we continued to garner market share through our focus on the building blocks of distribution diligence in marketplace & brand building through focussed product campaigns.
On the cost front, we witnessed moderate inflation in the prices of key raw materials for the bakery business. Commodity prices at global level too witnessed a moderation due to low demand on account of lockdown in most parts of the world. Our drive on cost efficiencies, reduction in wastages and ability to leverage fixed costs helped as improve the shape of our business and record a 40 bps increase in operating profit during the quarter despite the Covid 19 pandemic.”