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Britannia Industries’ consolidated revenue up 13%; Q2 net profit up 16%
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Wednesday, 14 November, 2018, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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Britannia Industries reported consolidated revenue growth of 13 per cent in the second quarter of financial year 2018-19 at Rs 2,855 crore. Profit from operations at Rs 417 crore increased by 21 per cent. Net profit for the quarter at Rs 303 crore increased by 16 per cent.
Commenting on the performance, Varun Berry, the company’s managing director, said, “This was the fourth successive quarter of double-digit volume growth, primarily due to our investment in brands, multi-media campaign to bring alive the new identity and celebrating 100 years and widening our distribution network through focus on direct reach, rural market and weak states.”
“In the base business we continued our premiumisation and innovation journey with the launch of Pure Magic Chocolush, Good Cashew Almond and Tiger Choco Cookies and the renovation of 50-50 and Bourbon,” he added.
“In line with our goal to become a global total foods company, we launched two new categories - cream wafers and flavoured milkshakes in tetra packs. Further, our international business witnessed a healthy double-digit growth, despite the slowdown in key geographies of the Middle-East and Africa. Project work at the Greenfield unit in Nepal is progressing well and is expected to be commissioned in the fourth of the current year, giving us local presence in the country,” Berry added.
“On the commodity front, we witnessed marginal inflation in the prices of key raw materials. Our cost-efficiency programme and endeavour to leverage fixed costs have helped us improve our profitability. We have progressed well in our journey of building technologically superior factories, and the first biscuit line at the integrated food park in Ranjangaon has been commercialised,” he stated.
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