Britannia Industries: Sales grow 27,5 percent in Q2/2010

Mumbai / IN. (bi) Britannia Industries Limited, India´s leading Food Company, reported sales of 10’948 MM INR, for the quarter, a growth of 27,5 percent, compared with 24,8 percent in the first quarter. This takes its half yearly revenue to 20’059 MM INR, a growth of 26,2 percent backed by a volume growth of 20 percent+. Year-to-Date September, Net Profit at 647 MM INR, declined 39,2 percent. Managing Director Vinita Bali: «In an intensely competitive market we continue to accelerate volume and revenue growth ahead of total industry growth. Unprecedented and unabated inflation in commodities has adversely impacted industry margins and our focus is on driving cost effectiveness, operational efficiencies and better sales mix for margin improvement. Our innovation pace has also increased with several new launches to tap new opportunity segments».