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Britannia clocks 6% revenue growth at Rs 3,106 cr & net profit by 22%
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Tuesday, 09 February, 2021, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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Britannia Industries, India’s leading food company, reported consolidated revenue growth of 6 per cent in Q3 and 14 per cent for the nine months at Rs 3,106 crore and Rs 9,845 crore respectively. Consolidated Net Profit increased 22 per cent in Q3 and 46 per cent for the nine months at Rs 456 crore and Rs 1,500 crore respectively. During the nine months, Consolidated Net Profit per cent recorded an increase of 330 bps. In addition, the company has been consistently gaining market share over the last several quarters.
Commenting on the performance, Varun Berry, managing director, said, “General Trade, which is the largest channel for us, continues to grow at a healthy pace on the back of buoyancy in rural economy and recovery in urban markets.The other channels such as Modern Trade, Institutional business etc., continue to face challenges with lower footfalls in stores and offices, schools, railway services coming back to normalcy gradually. Essentials were at elevated levels of demand at the beginning of the year due to pantry up-stocking which has started to normalise with diversification of purchase basket of the consumers.”
“We continue to focus our efforts on the basic building blocks of our business which include direct reach, rural distribution, range selling, higher throughput, salesmen productivity and invest in enhancing our brand equity through focused product campaigns,” he added.
“On the cost front, we witnessed moderate inflation in the materials prices except Palm oil where we witnessed a significant increase. We neutralised the inflation by accelerating our cost efficiencies and sustained the new efficiencies that we witnessed during the Covid-19 induced lockdown. These measures helped us record a 260 bps increase in operating profit during the quarter versus last year,”said the Britannia chief.
“Going forward, we intend to accelerate the pace of innovation and new launches, strengthen our distribution infrastructure and continue our focus on brand building to drive growths and market share. We also expect that the recently announced Union Budget 2021, would provide the much-needed impetus to the demand scenario,” he said.
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