Britannia Industries Wednesday reported an 11.82 percent increase in consolidated net profit at Rs 294.27 crore for the fourth quarter ended March 31, 2019. The company had posted a net profit of Rs 263.16 crore in the corresponding quarter of the previous fiscal, Britannia Industries said in a regulatory filing.
According to a PTI report: Total income during the period under review stood at Rs 2,860.75 crore as against Rs 2,581.93 crore in the year-ago quarter, it added.
Commenting on the performance, Varun Berry, Managing Director, Britannia Industries told PTI, “We continued the momentum in the base business through distribution expansion, heightened innovation and cost-efficiency programmes.”
He further said that in line with its goal to become a ‘Total Foods Company’, Britannia has launched new categories.
For the fiscal ended March 2019, the company’s net profit was at Rs 1,155.46 crore as against Rs 1,003.96 crore, up 15 percent.
Total income from operations for FY19 was at Rs 11,261.12 crore as against Rs 10,156.47 crore in FY18.
The company said its board of directors has recommended a dividend of 1,500 per cent (Rs 15 per share of face value Re 1 each).
On the outlook, Berry told PTI, “We have witnessed slowdown in market place in the recent months, however, this should get neutralised with a favourable monsoon forecast and stable government post elections.”
In the coming quarters, he was quoted by PTI as saying, “the priority will be to scale up the new categories launched to ensure we stay ahead of market and achieve profitable growth”.
In line with the organisation goals, the company has also set up strategic business units for Adjacent Bakery, dairy and international business, he added.