Exceptionals weigh on Britannia Industries' profit

MUMBAI: Britannia Industries has posted a tepid 4% increase in fourth-quarter net profit, as exceptional items weighed on an otherwise strong performance.

The maker of Good Day and Tiger biscuits said it posted a net profit of Rs 92 crore for the January-March quarter. While it was hit by exception costs in the latest quarter, its year-earlier results were boosted by the sale of a property which skewed the comparison.

The company said its net profit would have expanded 32% had there been no exceptional items.

Net sales rose 9% to Rs 1,620 crore, it said.

Managing Director Varun Berry said the past fiscal year had been a good one for the company. “Toughening economic environment called for a focus on fundamentals and we did that,” he said.