Britannia: Net Profit Climbs 18,4 percent for Q1/2013

Mumbai / IN. (bil) Britannia Industries Limited (BIL), India´s leading Food Company, for the first Quarter ending June 2012, reported an increase of twelve percent in its Consolidated Revenue of 1’348,2 INR crores and a Net Profit increase of 18,4 percent at 46,5 INR crores. It also reported an increase of eleven percent in its standalone revenue of 1’221,6 INR crores with Profit from Operations of 59,3 INR crores, an increase of 45,5 percent. Net Profit at 43,5 INR crores for Quarter 1 this year increased four percent as the base for Quarter 1 of last year included profit on sale of property of 10,4 INR crores (net of tax), which was not the case in this Quarter. Commenting on the performance, Vinita Bali, Managing Director, said: «Our focus on strengthening the shape of our business has resulted in a 120 basis points increase in Operating Margin. We continue to work on the three priority areas of revenue management, cost management and innovation to improve the operational performance of all our categories – biscuits, bread, cake, rusk and dairy, both in India and overseas».