BUSINESS DESK
Biscuit-maker Britannia Industries reported a 23 per cent jump in consolidated net profit to ₹495 crore for the quarter ending September 30. The net profit for the corresponding quarter last year stood at ₹403 crore.
Consolidated sales, during the quarter under review, saw an 11 per cent jump year-on-year to ₹3,354 crore (₹3,023 crore).
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On a standalone basis, net profit and sales stood at ₹462 crore and ₹3,161 crore respectively.
On the cost front, Britannia said it “witnessed moderate inflation in price of key raw materials”. Accordingly, it expects prices to be stable going forward, “given the positive outlook on monsoon and harvest.”
“We sustained a large part of the efficiency gains that were witnessed in the previous quarter viz., supply chain efficiencies, reduction in wastages and fixed costs leverage. These measures helped us sequentially sustain the shape of our business and record a massive 390 bps increase in operating profit during the quarter versus last year,” Berry said in a statement.
On the cost front, Berry added, “we witnessed moderate inflation in the prices of key raw materials and expect the prices to be stable going forward given the positive outlook on monsoon & harvest. We sustained a large part of the efficiency gains that we witnessed in the previous quarter viz., supply chain efficiencies, reduction in wastages and fixed costs leverage. These measures helped us sequentially sustain the shape of our business and record a massive 390 bps increase in operating profit during the quarter vs. last year.”
Going forward, Berry said, “We are keeping a close watch on macro-economic factors, changes in laws, evolving consumer behaviour and are framing our medium-term strategy laying out scenarios to deal with this dynamic environment. We are confident of performing well in these tough times with the agility in our action and passion of the team.”