Britannia Industries' March Quarter Profit Rises To Rs 378 Crore

Britannia Industries' March quarter profit rose to Rs 378 crore
Britannia Industries' March quarter profit rose to Rs 378 crore

Britannia Industries Ltd reported an increase of 4.96 per cent in consolidated net profit at Rs 377.95 crore for the fourth quarter ended March 2022, led by an increase in topline and volume growth.

The company had posted a net profit of Rs 360.07 crore in the January-March quarter a year ago, it said in a regulatory filing.

Its total revenue from operations climbed 13.40 per cent to Rs 3,550.45 crore during the quarter under review. In the year-ago period, the same stood at Rs 3,130.75 crore.

Britannia Industries' total expenses were at Rs 3,085.45 crore, up 14.19 per cent in the fourth quarter of FY 2021-22. It was at Rs 2,701.87 crore in the previous year.

"In this quarter, we delivered a robust topline growth of 15 per cent and a mid-single-digit volume growth which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions & channels," said Britannia Industries Managing Director Varun Berry.

The company continued to accelerate its rural journey during the quarter with a focus on enhancing its reach.

"Our growths in organised trade channels remained robust, wherein revenues from E-commerce doubled over the last year," he said.

While talking about inflation, Mr Berry said the economy was impacted by global geo-political factors which caused a further surge this quarter.

"We continued to take price increases judiciously and remained aggressive on the cost front. In these challenging circumstances, our operating profits for the quarter grew by 10 per cent and over a 24-month period, by 23 per cent. We shall further take calibrated price increases and drive cost leadership to manage profitability," he said.

Updating progress over the building of factories, Berry said Britannia's new Dairy greenfield factory is on track for commercialisation in the next few months.

"In addition, we are also in the process of setting up 3 greenfield units - in Uttar Pradesh, Tamil Nadu and Bihar," he said.

For the fiscal year ended March 2022, Britannia Industries consolidated net profit was down 18.08 per cent to Rs 1,515.98 crore. It had reported a net profit of Rs 1,850.59 crore in 2020-21.

Its total revenue from operations was Rs 14,136.26 crore in 2021-22. This was 7.61 per cent higher than Rs 13,136.14 crore in the year-ago period.

Besides, the board of Britannia Industries in a meeting held on Monday recommended a final dividend of Rs 56.50 per equity share of Re 1 each for the financial year ended on March 2022.