Britannia Industries: Q2 earnings zoom 2,29 times

Mumbai / IN. (bi) Leading manufacturer of bakery products, Britannia Industries Ltd. registered a substantial rise of 2,29 times in net profit for the second quarter ended September 2007. During the quarter, the company saw a rise in net profit to 485 million INR from 212 million INR in the same quarter of the previous year. Earnings per share for the quarter jumped 2,29 times to 20,28 INR compared with the same quarter last ago.

Substantial rise in operating margins together with revenue growth helped the company to report excellent earnings growth. Operating margin during the quarter jumped of 470 basis points to 9,94 percent compared with 5,24 percent in the same quarter, a year earlier.

The net sales for the quarter surged 19,85 percent to 6.588 million INR, while the total income for the quarter jumped 20,31 percent to 6.646 million INR, when compared with the corresponding quarter last year.

Britannia Industries is engaged in the provision of bakery products, which include biscuits, bread and cakes, and dairy products. The company ist controlled through equal indirect stakes by French food company Danone and India´s Wadia Group.

Exchange rate on October 23th, 2007:
100 Rupees (INR) = 1,77671 Euro (EUR) = 2,52525 US-Dollar (USD)
100 Euro (EUR) = 5.630,17 Rupees (INR) = 142,140 US Dollar (USD)