Britannia Q1 Profit Surges 10.5%

5 Aug 2024 , 10:31 AM

Britannia said on Friday that its consolidated earnings for the June quarter increased 10.5% year over year (YoY) to ₹506 crore, while revenue increased 4% YoY to ₹4,130 crore.

This year, its operational profit margins increased by 50 basis points to 17.7%, while EBITDA increased by almost 9% to ₹753 crore.

According to Varun Berry, MD Britannia, increased operating margins over the previous year and high single-digit volume growth were the main drivers of the moderate revenue gain.

We have concluded a difficult fiscal year marked by a decline in consumption, especially in rural India. The rural market share increased more quickly than the urban share this quarter, according to Berry, who also noted that “our performance this quarter reflects the agile approach to a dynamic market environment and diligent market practices.”

“We are making full use of the quickly expanding Modern Trade and E-commerce channels, which have both grown significantly in comparison to the prior year. We also launched the Golmaal variation and Pure Magic Stars throughout the quarter, which have enhanced our brand reputation and increased consumer excitement,” he added.

Regarding costs and profitability, the company stated that it continues to monitor changes in the geopolitical environment and commodities prices. Britannia’s cost-cutting initiative keeps producing operational savings, guaranteeing strong operating margins.

For feedback and suggestions, write to us at [e-mail]