Britannia’s Q4 net profit rises 17% to Rs107.66 crore
Revenue for the quarter rose 8.6% from the year-ago period to Rs1,777 crore
Bangalore: Britannia Industries Ltd, the maker of Good Day and Tiger biscuits, said fourth quarter profit rose 17% from a year earlier to ₹ 107.66 crore, helped by lower advertisement and stock-holding expenses.
Revenue for the quarter ended 31 March rose 8.6% from the year-ago period to ₹ 1,777 crore. Expenses related to purchases of stock in trade in the quarter fell to ₹ 139.2 crore from ₹ 171.9 crore in the year-ago quarter. Advertisement expenses fell marginally to ₹ 146.19 crore.
The earnings are the first for Britannia under Varun Berry, who replaced Vinita Bali as managing director in March.
Britannia has been reporting strong results for the past year, helped mostly by stabilizing costs of wheat and other ingredients. Its stock price has risen roughly 52% over the past year.
“Overall, it’s been a good year with double digit revenue growth (11.3%) and a solid profit growth (52.3%)," Berry said in a statement. “This is the result of a disciplined effort that focused on the primary building blocks of business viz. supporting our brands, an empowered and passionate front-line organization delivering increased distribution depth in urban and width in rural India, consistently high product quality and improved operational efficiency."
Britannia shares fell 0.3% to ₹ 867.75 on Monday on BSE, while the Sensex rose 0.10%.
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