Britannia: net profit declined in Q3/2009

Mumbai / IN. (bi) Britannia Industries Limited, India´s leading food Company, posted a 36,9 percent drop in net profit after tax to 29,1 INR crore for the third quarter ended December 31, 2009, over the corresponding period 2008. The company had a net profit after tax of 46,2 INR crore for the same quarter last year, Britannia Industries said in a press release.

Managing Director Vinita Bali: «Unprecedented inflation in commodities has challenged industry margins. Whilst we have continued to insulate our consumers from this cost inflation, profits and profitability have been adversely impacted. All round cost effectiveness and improved sales mix will remain the building blocks of Britannia´s profit improvement plan, but if the current situation continues, judicious price increases may be inevitable».

Net sales increased to 881,4 INR crore for the quarter under review from 818,3 INR crore for the same period previous fiscal. «All round cost effectiveness and improved sales mix will remain building blocks of Britannia´s profit improvement plan, but if the current situation continues judicious price increase may be inevitable», she said.

For the nine-month period ended December 31, 2009, net profit after tax declined to 135,5 INR crore from 139,5 INR crore in the same period 2008. Net sales rose to 2’471,1 crore in the nine-month period under review from 2’350,2 crore during the same period last fiscal.

Exchange rate on January 28, 2010 (Interbank):
1’000’000,000 Indian Rupees (INR) = 15’435,645 Euro (EUR)
1’000’000,000 Euro (EUR) = 64’785’112,733 Indian Rupees (INR)

1 INR = 0,01544 EUR
1 INR crore = 100 INR lakh = 10’000’000,00 INR = 154’356,450 EUR

A crore (often abbreviated cr) is a unit in the Indian numbering system and was formerly a unit in the Persian numbering system, still widely used in Bangladesh, India, Maldives, Nepal, Pakistan, and formerly in Iran — says Wikipedia. An Indian crore is equal to 100 lakh or 10’000’000.

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