Britannia posts 20% rise in Q1 net
Britannia Industries posted 20% jump in net profit even as topline revenue moved up by 19% for the Q1of the current fiscal on a Y-o-Y basis.
By TNN |
BANGALORE: Britannia Industries posted 20% jump in net profit even as topline revenue moved up by 19% for the Q1of the current fiscal on a Y-o-Y basis. The net vaulted to Rs 36 crore in Q1 of 2007-08 from Rs 30 crore in the corresponding quarter of the last financial year. The company reported sales of Rs 576 crore in Q1 as against Rs 483 crore in the same period last year. Britannia MD Vinita Bali said: “We have consolidated on the turnaround witnessed in Q4 last year. Our operating profit margins have improved from 6% to 7.2%.”
Growth has come in from all categories, including the non-biscuit foods portfolio of cakes, rusks and breads.”
She said the excise benefits announced by the Centre started flowing in only in June and the impact was marginal this quarter.
During the quarter, Good Day Jumbo, a premium cookie, was introduced in the market and Chota Tiger’ was extended nationally. The company also saw steady growth in 50-50 Chutkule since its launch.
Ms Bali said the company held on the market share by value with the latest AC Nielsen data pegging Britannia at 36%. The figures does not include Britannia’s recent acquisitions in the domestic as well as Middle East markets.
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During the quarter, Britannia added muscle to its non-biscuit portfolio by bolstering the manufacturing base for cakes and rusks. The non-biscuit portfolio contributes about 17-18% to the company topline. The company has doubled the turnover from this business from around Rs 100 crore in the last two years and is looking for a repeat act by 2010. Download
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