Britannia sales up 9.3 percent at Rs 34,014 million

    Britannia sales up 9.3 percent at Rs 34,014 million

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    Ltd (BIL) has reported sales of Rs 34,014 million for the year ended March 31, 2010, marking a growth of 9.3 percent over the previous year. Net profit for the year declined by 35.4 percent at Rs 1,165 million.

    The board of directors has recommended a dividend of 250 percent. It has also approved, subject to shareholders consent, sub-division of each equity share of the face value of Rs 10 into five equity shares of Rs 2 each.

    Commenting on the performance, , managing director, BIL, said, “Unabated inflation in commodity prices and increased brand investment in an intensely competitive market, adversely impacted the bakery margin. We also had some one-off exceptional items that eroded profitability.”

    The dairy business, Bali said, recorded double-digit top line and profit growth and was well poised to be a significant growth vector. “We have a strong conviction about the profitable growth of both our business streams and are working towards delivering that in the future, as we have done in the past,” she maintained.

    — IndiaRetailing Bureau