Britannia Industries Ltd. (BIL), India’s leading Food Company, reported consolidated revenue growth of 13% for the Quarter at Rs. 2,855 crores. Profit from Operations at Rs, 417 crores increased by 21%. Net profit for the quarter at Rs. 303 Crs increased by 16%.
Commenting on the performance, Varun Berry, Managing Director, said, “This was the fourth successive quarter of double digit volume growth primarily due to our investment in brands, Multi-media campaign to bring alive the new identity and celebrating 100 years and widening our distribution network through focus on direct reach, rural market and weak states. In the base business we continued our Premiumisation & Innovation journey with launch of “Pure Magic Chocolush,”, “Good Cashew Almond” & “Tiger Choco Cookies” and renovation of 50-50 & Bourbon.
In line with our goal to become a “Global Total Foods Company” we launched two new categories “Cream Wafers” and “Flavoured Milk Shakes” in Tetra Packs. Further, our International business grew by a healthy double digit despite slow-down in key geographies of Middle East and Africa. Project work at the Greenfield unit in Nepal is progressing well and is expected to be commissioned in Q4 of the current year, giving us local presence in the country. On the commodity front, we witnessed marginal inflation in the prices of key raw materials. Our cost efficiency program and endeavour to leverage fixed costs have helped us improve our profitability. We have progressed well in our journey of building technologically superior factories and the 1st Biscuit line at the Integrated Food Park in Ranjangaon has been commercialized.”