Business News Food

Britannia’s fourth-quarter FY23 net profit rose by 47.5% to Rs. 557.60 crore.

FMCG major Britannia has reported a 47.5 per cent rise in consolidated net profit at Rs 557.60 crore in the fourth quarter (Q4) ended March 2023. The company had reported a consolidated net profit of Rs 377.95 crore in same period of the last fiscal, it said in a regulatory filing.

The company’s total revenue from operations grew to Rs 4,023.18 crore in Q4 FY23 as against Rs 3,550.45 crore in the same quarter in the previous fiscal.

Britannia’s total expenses slightly rose to Rs 3,322.48 crore in Q4 FY23 as against Rs 3,085.45 crore in the corresponding period of the previous fiscal, as per the BSE filing.

The company saw 11 per cent growth for the fourth quarter in the fiscal year 2023 on the back of significant distribution gains.

Varun Berry, vice chairman and managing director, said, “We continued to accelerate our rural journey with focus on enhancing reach, partnering with 28,000 rural distributors, and sustaining our diligent market practices.”

During the period, the FMCG firm has expanded its portfolio of categories including milk shakes and croissant. It further said to build technologically superior factories. While speaking on the company’s growth, Berry announced the commercialization of 2 biscuit greenfield units in this quarter – in Uttar Pradesh & Tamil Nadu and brownfield expansion in Orissa.

Britannia had commercialized 3 new lines of rusk this quarter. This is in line with its strategy to make in-house products, and enhance productivity, the company added.

Berry shared that the firm has scaled-up the capacity of drinks and other dairy lines to better leverage seasonal opportunities and enhance supplies to bakery division for captive consumption.

On cost and profitability front, input prices softened on the back of correction in palm oil and packaging materials, while flour continued to trend higher, the company said.

Further, Berry said, “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.”



About Author

Leave a comment

Your email address will not be published. Required fields are marked *

You may also like


Whole Foods Market unveils top trends for 2023

AUSTIN, TEXAS — Plant-based foods, increased interest in sustainable foods and practices, and the return of popular classics highlight potential
Business News Digital Transformation

IRCTC adds new buy now, pay later option: Check details

Indian Railways Catering and Tourism Corporation (IRCTC), has partnered with the CASHe to offer a Travel Now Pay Later (TNPL)
Wordpress Social Share Plugin powered by Ultimatelysocial
error: Content is protected !!