Britannia consolidated sales grow 14% yoy to Rs3,531cr in Q3 driven by superlative performance across Divisions and Channels, PAT at Rs371cr

31 Jan 2022 , 08:43 AM

Britannia Industries has announced its financial performance for the quarter ending December 2021 (Q3FY22). The company logged a Consolidated Sales of Rs3,531cr with a growth of 14% for the quarter. Consolidated Net Profit for the quarter stood at Rs371cr. On a 24-month basis, for nine months ended 31 st December 2021, the Consolidated Sales and Net Profit grew 21% and 11% respectively.

Varun Berry, Managing Director said, “We delivered a high single-digit volume growth significantly ahead of the market and a resilient double-digit top-line growth of 14%, driven by superlative performance across Divisions and Channels. While the rural markets across FMCG witnessed a significant slowdown, we were able to maintain a significant competitive advantage through our focus to enhance rural footprint and our diligent market practices, which is reflected in the robust topline growth and consistent gain in market share. We continued to invest behind our brands and relaunched “Good Day”, one of our power brands, with the concept of “Multiple Smiles in a pack” backed by TV, print & outdoor media, and visibility drives, towards the end of the quarter.”

On the cost front, Berry added, “we continued to witness an increase in commodity prices with inflation of ~4% sequentially (quarter on quarter) and ~20% over last year. As market leaders, we actioned price increases ahead of the competition. However, the upward trajectory in prices of commodities and fuel impacted profitability, which led us to action further price increases and accelerates cost efficiency programs.”

“We are confident that our resilient Brands and strategic growth initiatives will hold us on a path of sustainable & profitable share gain in the future as well,” Berry lastly said.

On Monday, Britannia stock will be in focus after Q3 earnings.