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Britannia’s Q2 sales at Rs 4,566 crore for the quarter grew 4.5% over last year & 10.6% sequentially
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Wednesday, 27 November, 2024, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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Britannia’s consolidated sales for Q2 stands at Rs 4,566 crore, growing 4.5% over a 12-month period and Profit after Tax stands at Rs 531 crore, declining 9.6%. Over the last quarter, the consolidated sales grew 10.6% while the Profit after Tax grew 5.1%. For six-month period ended September 30, 2024, the Consolidated Sales grew 4.3% while the Profit after Tax declined 0.8% over previous year.
Varun Berry, vice chairman & managing director, said, “A ~8% volume growth with a sequential increase in revenue and operating profits are satisfactory results in the face of severe commodity inflation leading to a tepid consumer demand scenario in most FMCG categories. In the context of steep rise in prices of key commodities such as Wheat, Palm, Cocoa, we demonstrated agility in initiating focused pricing actions and identifying new levers for cost optimisation across the value-chain. As a result, we maintained a healthy operating margin of ~15.5% during the quarter. We are committed to investing in capability enhancement and brand development with the clear objective of driving market share and sustaining profits.”
“Our agenda of being a ‘Total Global Foods Company’ is progressing well with our adjacent businesses such as Croissant, Milk Shakes, Wafers and International growing at a healthy pace. Making strides in this direction, we are working on redefining our distribution strategy to optimize range distribution and improve outlet servicing, and the preliminary results of the pilots across 25 cities covering more than 50,000 outlets are encouraging. We reaffirm our commitment to our ESG framework of People, Growth, Governance and Resources and shall continue to focus on our initiatives to build a Sustainable and Profitable business,” stated the Britannia chief.
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