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Britannia’s consolidated revenue for ’17-18 Q1 up by 6% to Rs 2,301 cr
Friday, 11 August, 2017, 08 : 00 AM [IST]
Our Bureau, Bengaluru
Britannia Industries Ltd reported a six per cent growth in the consolidated revenue for the first quarter of financial year 2017-18. It amounted to Rs 2,301 crore. Operating profit for the quarter, which was Rs 295 crore, witnessed a two per cent growth.

Varun Berry, the company’s managing director, said that in the face of a challenging market environment and the destocking in trade due to Goods and Services Tax (GST), it had been a good quarter.

“While GST created a short-term impact, it is expected to generate a positive momentum going forward,” he added.

“Our continued focus on enhancing direct reach, coupled with our rural agenda, have helped us drive growth and sustain share momentum during this difficult time,” Berry said.

“We are actively working on bridging our portfolio gaps and renovating our brands to excite consumers. Our innovation drive will continue with a spate of new and innovative products to be launched in the coming quarters,” he added.

“Growth in our international business continued to be under pressure due to deteriorating geopolitical situation and currency fluctuations in geographies like the Middle-East and Africa,” Berry said.

“The growth in the dairy business has also been subdued primarily due to our focus on driving products with high profitability and reducing our play in the less profitable commoditised products,” he added.

“On the commodity front, the prices of key raw materials continue to remain high, with inflation in the first quarter standing at around six per cent,” Berry said.

“Meanwhile, our accelerated cost efficiency programme and endeavour to leverage fixed costs have helped us improve our profitability on a sequential basis,” he added.
 
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