Britannia Industries has shown an extremely impressive growth posting a profit before tax amounting to rupees 737 crore for the first quarter of this financial year. The profit of 737 crore is tantamount to A rise of 88% against the same period last year. The biscuit company scored a net profit growth of 117 % amounting to 546 crore year on year.
The Bengaluru based company e show a growth of 26 % year-on-year in its consolidated revenue being reported at 3384 crore rupees. This amount was way beyond the expected. The growth in the terms of volume also Rose at 22% against the expectations of 17 to 20%.
The growth example set by the company is extremely impressive. Britannia Industries’ director of Varun berry said that the nimble culture of the company which runs with the stock of 2-3 days is the reason behind the quick adaptation to the dynamic COVID environment.
The company was focused on reaching the pre COVID levels and increasing their reach in rural areas. It also launched two new products namely winkin cow lassi and rupees 5 layer cake pack.
The company saw a rise of 26% in its net sales settling at rupees 3,384 crore. Operating profit rose at 91% ending at 669 crore while PAT jumped 117% at 546 crore as compared to the first quarter of the financial year 2020.
One of the major key takeaways in the report was the growth of Rusk and bread. Both these items grew faster than the overall growth witnessed by Britannia Industries. The dairy segment growth was supported by Cheese.
Britannia industries have also declared and additional capital expenditure amounting to rupees 700 crore. This capital expenditure would be made in the next two to three years. Managing director of Britannia Industries Varun Berry also said in an announcement that the company is looking forward to setting up new plants. These new plants would be inaugurated in Bihar, Tamil Nadu, and Uttar Pradesh. Uttar Pradesh is the second-largest emerging market for the company and this new plant would be the first-ever plant setup by Britannia in a Hindi speaking State.