Britannia Industries: reports higher sales and profit

Kolkata / IN. (bil) Britannia Industries Limited (BIL), India’s leading food company, reported consolidated revenue growth of eight percent for the Quarter at INR 2’162 crores. Profit from operations and Net Profit for the Quarter at INR 288 crores and INR 219 oores increased by llo/o and l3’olo respectively. Commenting on the performance, Managing Director Varun Berry said: «We continue to outpace the market with our go to market strategy ofcreating a robust distribution network with uffelenting 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 and Biscotti during the quarter which have helped us to bolster our growths. We intend to drive consumer offtake and strengthen our momentum through re-stage ofour 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 and organoleptically superior products for our consumers as we progress on our journey».