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Britannia revenue grew 10%, net profit 13%; recommends dividend of 1500%
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Thursday, 02 May, 2019, 13 : 00 PM [IST]
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Our Bureau, Bengaluru
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Britannia Industries has reported consolidated revenue growth of 10% for Q4 which is 12% comparable for the year at Rs 2,764 crore and Rs 10,973 crore respectively. Net profit increased 13% for the quarter and 15% for the year at Rs 297 crore and Rs 1,159 crore respectively.
The board of directors recommended a dividend of 1500% which is Rs 15 per share of face value Re 1 each.
Commenting on the performance, Varun Berry, managing director, Britannia, said, “Our performance has been consistent, with a revenue growth of 10% and net profit growth of 13% in the quarter. We continued the momentum in the base business through distribution expansion, innovation, and cost efficiency programmes.”
He added, “In line with our goal to become a total foods company we have launched new categories. In the base business, we continued our premiumisation & innovation journey with launch of Treat Burst, Treat Stars, and Milk Bikis Chocolate Cream. We also renovated our cakes portfolio and bridged portfolio gaps with launch of swiss rolls, layer cake and brownie. Our new category launches cream wafers, flavoured milk shakes have received positive response in the market. We also launched Treat Croissant and Timepass Salted Snack as a pilot in few channels / geographies.”
Berry stated, “We commissioned our greenfield unit at Nepal in April this year, giving us local presence in the country. In the coming quarters, priority will be to scale up the new categories launched to ensure we stay ahead of market and achieve profitable growth. In line with our organisation goals, we have also set up strategic business units for adjacent bakery, dairy & international business. The company has commissioned the croissant line at Ranjangaon, 50 km from Pune, and the salted snacks line in Bengaluru.
Berry trailed off, “On the commodity front, we witnessed moderate inflation in the prices of key raw materials. We have progressed well in building technologically superior factories. We have witnessed slowdown in market place in the recent months, however this should get neutralised with a favourable monsoon forecast and stable government post elections.”
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