Britannia consolidated sales for the quarter grew 22% & profit from operations increased by 30% in this quarter

Britannia Industries (BIL), India’s leading Food Company reported Consolidated Sales of Rs. 4,338 Crores growing at 22% & Profit from Operations at Rs. 660 Crores growing at 30% for the quarter.

Commenting on the performance, Varun Berry, managing director, said, “We have witnessed positive growth momentum over the last few months. Our Go-to-market strategy & increase in distribution reach have converged to deliver a robust topline growth of 22% YoY & 19% QoQ, aided by mid-single-digit volume growth, as we record our highest quarterly revenue. We continue to have aggressive market share gains, consistently over the past 38 quarters & registering a 15-year high, which is a testimony of our Brand strength & team’s execution capability. Our direct distribution jumped to 26 lakhs outlets, with an additional of 4 lakhs outlets in the last 6 months. We continue to make strides in our Rural journey and we now have appointed ~28,000 Rural Preferred Dealers, which has led to consistent market share gains.”

Berry further adds, “We supported our strong brands with the requisite media investments in the digital & mass media space. It was a quarter of consolidation where we supported our newly launched products eg. Treat Croissant, NC Seeds & Herbs, Biscafe, Potazos, 50-50 Golmaal, Marble cake & Rs 5 Muffils across geographies & channels. Some of our new launches have done extremely well & continue to grow aggressively quarter on quarter.”

“On the cost & profitability front, commodity inflation remained on the boil on the back of rising inflation in Flour & Milk products. In this dynamic environment, as a result of our pricing actions and intensified cost efficiency program, we have been able to improve our operating margins beyond pre-covid levels.

On the sustainability front, I am delighted to share that the latest DJSI score has seen an improvement from 37 to 52 and we now sit in the 91^st percentile of companies in this sector. We stay committed to our ESG framework of People, Growth, Governance, and Resources and shall continue to focus on our initiatives to build a Sustainable Profitable business,” He concludes.