Britannia Industries 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, Vinita Bali, 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