Indian Food Company Britannia Industries (BIL) has reported a consolidated revenue growth of 11.3 percent for the year at Rs 6,829 crore. In Q4, consolidated revenue grew 8.6 percent at Rs 1,777 crore. Profit from operations stood at Rs 147 crore, an increase by 16.9 percent. The company recorded a net profit of Rs 108 crore, increasing by 16.9 percent.
Profit from operations and net profit increased by 56.6 percent and 52.3 percent at Rs 544 crore and Rs 395 crore, respectively. On a standalone basis, revenue for the year stood at Rs 6,232 crore increasing by 12 percent. Profit from operations and net profit increased by 69.6 percent and 58.1 percent at Rs 533 crore and Rs 370 crore, respectively.
Commenting on the performance, Varun Berry, Managing Director, Britannia Industries, said: “Overall, it’s been a good year with double digit revenue growth and a solid profit growth. This is the result of a disciplined effort that focussed on the primary building blocks of business viz. supporting our brands, an empowered and passionate front-line organisation delivering increased distribution depth in urban and width in rural India, consistently high product quality and improved operational efficiency. Toughening economic environment called for a focus on fundamentals and we did that. We have established a great platform to take our organisation to greater heights.”
On a standalone basis, revenue in Q4 increased by 9 percent to Rs 1,620 crore. Profit from operations increased by 26.7 percent to Rs 148 crore while it registered a net profit of Rs 92 crore, increasing by 4.2 percent, which was impacted by exceptional item of Rs 20 crore (pre-tax) towards provision for diminution in value of investment in Daily Bread. Moreover, Q4 of previous year included profit on sale of property (pre-tax) of Rs 7.5 crore. Without considering this, net profit growth would have been 32 percent. The Board of Directors recommended a dividend of 600 percent i.e. Rs 12 / share.