Q4 Results: Britannia's Net profit Rises 47% Total revenue from operations stood at INR 4,023.18 crore, registering a growth of 13.31 per cent
By Shrabona Ghosh •
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Britannia Industries Ltd reported a 47 per cent rise in consolidated net profit at INR 559 crore for the fourth quarter ended March 2023.
Total revenue from operations stood at INR 4,023.18 crore, registering a growth of 13.31 per cent, the company said in a regulatory filing.
The growth can be attributed to the various measures taken on the cost & profitability front. Input prices softened on the back of correction in Palm Oil & Packaging materials, while Flour continued to trend higher. The cost efficiency program coupled with moderation in commodity inflation led to a healthy operating margin in this quarter. "We are being vigilant of the competitive actions in the marketplace and closely monitoring the commodity situation in the country, especially around Wheat and Sugar. We shall deploy appropriate pricing actions to remain competitive and drive market share growth," said Varun Berry, vice chairman and managing director, Britannia Industries.
"We delivered a robust growth of 11 per cent in this quarter on the back of significant distribution gains, which reflects our execution strength across businesses & channels. We continued to accelerate our rural journey with focus on enhancing reach, partnering with 28,000 rural distributors, and sustaining our diligent market practices," he added.
The company announced commercialization of two biscuit greenfield units in this quarter – in Uttar Pradesh & Tamil Nadu and brownfield expansion in Orissa. We also commercialized 3 new lines of Rusk this quarter. "This is in line with our strategy to make in-house, our exclusive range of products, and further enhance productivity. We efficiently scaled-up the capacity of our drinks and other dairy lines to better leverage seasonal opportunities and enhance supplies to bakery division for captive consumption," Berry said.
