Britannia consolidated sales & operating profits for the quarter grew 15% & 10% respectively

Britannia consolidated sales & operating profits for the quarter grew 15% & 10% respectively

Photo - Britannia

Britannia Industries (BIL), India’s leading food company, reported Consolidated Sales of Rs 3,508 crore with a growth of 15% and consolidated operating profit of Rs 499 crore with a growth of 10% for the quarter.

The Board of Directors recommended a dividend of 5650% that is Rs 56.5 per share.

Commenting on the performance, Varun Berry, managing director, said, “In this quarter, we delivered a robust top-line growth of 15% and a mid-single digit volume growth which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions and channels. We continued to accelerate our rural journey with focus on enhancing reach and sustaining our diligent market practices, which is evident in the consistent market share gains over the years. Our growths in organized trade channels remained robust, wherein revenues from eCommerce doubled over last year. We launched new to market innovations viz. Good Day Harmony, Jeera Marie and Nutrichoice Seeds & Herbs and new variants in Croissant & Wafers to further strengthen our adjacent categories."

He added, "We have progressed well in our journey of building technologically superior factories. In this context, I am pleased to announce that our new Dairy greenfield factory is on track for commercialization in the next few months. In addition, we are also in the process of setting up 3 greenfield units - in Uttar Pradesh, Tamil Nadu & Bihar."

"The economy was impacted by global geo-political factors which caused further surge in inflation this quarter. We continued to take price increases judiciously and remained aggressive on cost front. In these challenging circumstances, our operating profits for the Quarter grew by 10% and over a 24-month period, by 23%. We shall further take calibrated price increases and drive cost leadership to manage profitability."

"We believe in ‘Sustainable Profitable Growth’ and have made rapid strides towards our goals. I am pleased to inform that we were recognized amongst the 'Top 40 of India’s most sustainable companies' by Business World. We are committed towards our pillars of ESG framework – People, Growth, Governance and Resources and are confident of delivering on the targets that we have set for ourselves.”

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