Britannia Consolidated Revenue Grows 8% and Net Profit increases 13% in Q1
Posted by: Clara Fernandes at 8/08/2016 03:44:00 am
Kolkata, August 8th, 2016: Britannia Industries Ltd. (BIL), India’s leading Food Company, reported consolidated revenue growth of 8% for the Quarter at Rs. 2,162 crores. Profit from operations and Net Profit for the Quarter at Rs. 288 crores and Rs. 219 crores increased by 11% and 13% respectively.
Commenting on the performance, Mr. Varun Berry, Managing Director, said,
“We continue to outpace the market with our go to market strategy of creating a robust distribution network with unrelenting focus on rural and our weak states. The category growths remained subdued during the quarter, however I am hopeful that a good monsoon and impact of 7th pay commission would aid consumption and boost demand going forward. The deteriorating geopolitical situation and currency fluctuations in certain geographies like Middle East and Africa have also impacted our growths. We launched some delightful products like Goodday Nuts cookies, NutriChoice Oat cookies & Biscotti during the quarter which have helped us to bolster our growths. We intend to drive consumer off take & strengthen our momentum through re-stage of our brands and plugging our product portfolio gaps going forward. Commodity prices have firmed up significantly over the last two quarters and we have initiated a combination of price increase & cost efficiency measures to address this. With a strengthened back end in terms of technologically superior factories and state of the art R&D centre, we are confident of delivering new to market & organoleptically superior products for our consumers as we progress on our journey."