Despite a sluggish demand scenario post demonetization, FMCG major Britannia Industries on Thursday reported a marginal rise of 2.54 per cent in its standalone net profit at Rs 196.73 crore for the fourth quarter (Q4) ended March 31, from Rs 191.86 crore for the same period in the last fiscal.
During the quarter under review, the total income of the company stood at Rs 2,193.63 crore — up 6.98 per cent — from Rs 2,050.48 crore reported during Q4 of 2015-16.
For the financial year ended March 31, 2017, the company’s standalone net profit rose by 10.53 per cent to Rs 843.69 crore, and the total income was up by 9.27 per cent at Rs 8,829.17 crore.
“It has been a good quarter in the face of challenging market environment and sluggish demand scenario post demonetisation. We expect the situation to slowly improve over the next three to six months with the measures announced by the government in the budget and the prediction of an above average monsoon this year,” Managing Director, Britannia Industries, Varun Berry said in a statement.
“Growth in our international business continued to be under pressure due to deteriorating geopolitical situation and currency fluctuations in geographies like Middle East and Africa. Growth in dairy business has also been subdued primarily due to our focus on driving products with high profitability and reducing our play in the less profitable commoditised products.”
On a consolidated basis, the profit of the company for the quarter under review rose by 5.92 per cent to Rs 210.76 crore compared to Rs 198.98 crore reported during the corresponding period of 2015-16.
The consolidated total income for Q4 2016-17 stood 5.59 per cent higher at Rs 2,349.63 crore as compared to Rs 2,225.18 crore during Q4 2015-16.
For the financial year ended March 31, 2017, the consolidated net profit of the FMCG major stood at Rs 884.33 crore and the total income at Rs 9,474.65 crore.
Along with the financial results, the company announced the launch of a premium cookie Goodday Wonderfulls.