Britannia: sales grow 27,5 percent in Q2/2011

Mumbai / IN. (bil) Britannia Industries Limited (BIL), India´s leading Food Company, reported sales of INR 10’948 MM 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 INR 20’059 MM, a growth of 26,2 percent backed by a volume growth of 20 percent plus. YTD September, Net Profit at INR 647 MM, declined 39,2 percent.

Commenting on the performance managing Director Vinita Bali said: «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».

Britannia has introduced several baked snacks in Q2/2011. Brand «Britannia» was once again voted «No. 1 Most Trusted Food» brand and among the «Top 10 Most Trusted Brands» across all categories for tenth successive year in an independent survey conducted by AC Nielsen and The Economic Times.