The company had posted a net profit of Rs 263.16 crore in the corresponding quarter of the previous fiscal, Britannia Industries said in a regulatory filing.
Total income during the period under review stood at Rs 2,860.75 crore as against Rs 2,581.93 crore in the year-ago quarter, it added.
Commenting on the performance, Britannia Industries Managing Director Varun Berry said, “We continued the momentum in the base business through distribution expansion, heightened innovation and cost-efficiency programmes.”
He further said that in line with its goal to become a ‘Total Foods Company’, Britannia has launched new categories.
For the fiscal ended March 2019, the company’s net profit was at Rs 1,155.46 crore as against Rs 1,003.96 crore, up 15 per cent.
Total income from operations for FY19 was at Rs 11,261.12 crore as against Rs 10,156.47 crore in FY18.
The company said its board of directors has recommended a dividend of 1,500 per cent (Rs 15 per share of face value Re 1 each).
On the outlook, Berry said, “We have witnessed slowdown in market place in the recent months, however, this should get neutralised with a favourable monsoon forecast and stable government post elections.”
In the coming quarters, he said, “the priority will be to scale up the new categories launched to ensure we stay ahead of market and achieve profitable growth”.
In line with the organisation goals, the company has also set up strategic business units for Adjacent Bakery, dairy and international business, he added. RKL MKJ
News credit : Indiatimes