Britannia Consolidated Revenue grew 11%, & Net Profit increased by 14% for the quarter

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    Britannia Industries Ltd. (BIL), reported consolidated revenue growth of 11% for the Quarter at Rs. 2,827 crores. Net profit for the quarter at Rs. 301 Crs increased by 14%.
    Commenting on the performance, Mr.Varun Berry, Managing Director, said,
    “Our consistent performance over the past 24 quarters continued with a revenue growth of 11% and Net profit growth of 14% in the quarter. The building blocks of the business continued to be: expanding distribution reach in urban & rural markets, increasing presence and share in weak territories, accelerating innovation journey and doubling down on cost through our Cost efficiency programs.
    In the base business, we continued our Premiumisation & Innovation journey with launch of “Whole Wheat Vita MarieGold”, “Good Cashew Almond” and renovation of 50-50 & Tiger Creams. We also bridged portfolio gaps in our Cakes business with launch of “Swiss Rolls” and “Layer Cakes”. In line with our goal to become a “Global Total Foods Company” our new launches “Cream Wafers” and “Flavoured Milk Shakes” in Tetra Packs have received positive response in the market. Project work at the Greenfield unit in Nepal is progressing well and is expected to be commissioned by end of the current year, giving us local presence in the country. In the coming quarters, priority will also be on bridging portfolio gaps in our bakery business and other adjacent macro snacking business opportunities to ensure we stay ahead of market and achieve profitable growth. In line with our organization goals, we have also set up strategic business units for Adjacent Bakery, Dairy & International Business.
    On the commodity front, we witnessed moderate inflation in the prices of key raw materials. We have progressed well in our journey of building technologically superior factories, in this context, I am pleased to announce commissioning of additional Cake & Biscuit lines at Ranjangaon.
    We have witnessed slowdown in market place in the recent months, however this should get neutralised with the measures taken in the Interim Finance budget to boost rural consumption”

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