NEW DELHI: Biscuit maker Britannia Industries on Friday reported a consolidated net profit of Rs 369.18 crore for the December quarter, down 18.43 per cent against a profit of Rs 452.64 crore in the same quarter last year.
The total revenue from operations came in at Rs 3,574.98 crore, up 10.06 per cent against Rs 3,248.17 crore in the corresponding quarter last year.
“We delivered a high single-digit volume growth significantly ahead of the market and a resilient double-digit top-line growth of 14 per cent, driven by superlative performance across divisions and channels,” said Varun Berry, Managing Director, Britannia.
“While the rural markets across FMCG witnessed significant slowdown, we were able to maintain a significant competitive advantage through our focus to enhance rural footprint and our diligent market practices, which is reflected in the robust topline growth and consistent gain in market share.”
The company management said on the cost front, the company continued to witness an increase in commodity prices with an inflation of 4 per cent sequentially (quarter on quarter) and 20 per cent over last year.
“As market leaders, we actioned price increases ahead of competition. However, the upward trajectory in prices of commodities and fuel impacted profitability, which led us to action further price increases and accelerate cost efficiency programs,” Berry said.
The operating margin of the company stood at 13.67 per cent, against 14.09 per cent in Q2FY22 and 17.78 per cent in Q3FY21. The net profit margin was at 10.17 per cent, against 10.43 per cent and 13.94 per cent, respectively.
The total revenue from operations came in at Rs 3,574.98 crore, up 10.06 per cent against Rs 3,248.17 crore in the corresponding quarter last year.
“We delivered a high single-digit volume growth significantly ahead of the market and a resilient double-digit top-line growth of 14 per cent, driven by superlative performance across divisions and channels,” said Varun Berry, Managing Director, Britannia.
“While the rural markets across FMCG witnessed significant slowdown, we were able to maintain a significant competitive advantage through our focus to enhance rural footprint and our diligent market practices, which is reflected in the robust topline growth and consistent gain in market share.”
The company management said on the cost front, the company continued to witness an increase in commodity prices with an inflation of 4 per cent sequentially (quarter on quarter) and 20 per cent over last year.
“As market leaders, we actioned price increases ahead of competition. However, the upward trajectory in prices of commodities and fuel impacted profitability, which led us to action further price increases and accelerate cost efficiency programs,” Berry said.
The operating margin of the company stood at 13.67 per cent, against 14.09 per cent in Q2FY22 and 17.78 per cent in Q3FY21. The net profit margin was at 10.17 per cent, against 10.43 per cent and 13.94 per cent, respectively.
Pick the best companies to invest
BECOME AN ETPRIME MEMBERRead More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Pick the best stocks for yourself
Powered by