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COMPANY REPORT

Britannia reported operating profit of Rs 499 crore with growth of 10% for Q4
Tuesday, 03 May, 2022, 15 : 00 PM [IST]
Our Bureau, Bengaluru
Britannia Industries 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 Q4 2022. Its board of directors recommended a dividend of 5650%, Rs 56.5 per share.

Commenting on the performance, Varun Berry, managing director, Britannia, 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 organised trade channels remained robust, wherein revenues from E-commerce doubled over last year. We launched new to market innovations viz. Good Day Harmony, Jeera Marie and Nutrichoice Seeds and Herbs and new variants in Croissant and Wafers to further strengthen our adjacent categories.”

“We have progressed well in our journey of building technologically superior factories. Our new dairy greenfield factory is on track for commercialisation in the next few months. In addition, we are also in the process of setting up 3 greenfield units - in Uttar Pradesh, Tamil Nadu and Bihar,” he added.

“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,” stated Britannia chief.

“We believe in ‘Sustainable Profitable Growth’ and have made rapid strides towards our goals. I am pleased to inform that we were recognised 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,” stated Berry.
 
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