NEW DELHI: FMCG major Britannia Industries on Monday reported a 4.26% increase in consolidated net profits for the quarter ended March to Rs 379.87 crore as compared to Rs 364.32 crore in the same quarter year ago.At the same time, revenue for the biscuit-maker grew 15.5% to Rs 3,508 crore in the fourth quarter, up from Rs 3,038 crore in the corresponding period last year.
The economy was impacted by global geo-political factors which caused further surge in inflation this quarter, Varun Berry, Managing Director, said. “We continued to take price increases judiciously and remained aggressive on the 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,” Berry said.
The company, during the quarter, launched new variants viz. Good Day Harmony, Jeera Marie and Nutrichoice Seeds & Herbs and in Croissant & Wafers to further strengthen adjacent categories.The firm also announced that its new dairy greenfield factory was on track for commercialisation over the next few months. It is also in the process of setting up three greenfield units in Uttar Pradesh, Tamil Nadu and Bihar.