Britannia had a profit of Rs 299 crore in the March quarter a year ago.
Britannia's stock is up 17 percent this year but has also fallen 11 percent in the March quarter.
⇛According to the current business news Biscuit maker Britannia Industries reported a profit of Rs 374.75 crore in March. This is 26.1 more than the profit made in the same period a year ago. The company had a profit of Rs 297 crore during that period. This reason for uniform in profit is a reduction in the cost of tax.
⇛The company released the financial results on Tuesday. The company said that due to operations, the revenue has increased by 2.5 percent to Rs. 2867.7 crore in the March quarter. This slight increase in sales volume has seen the effect of folk down in the country.
Britannia is consistently growing its market share.
⇛Varun Berry, managing director of the company, said that the company's growth was on track in the first two months of the March quarter, after a slow uniform for about 9 months. However, it has shown the effect of Covid-19 and it has affected both the revenue and profit.
⇛Berry stated that during the lockdown period, the company continued to have a large market share and focused on distribution. Brand building is also being focused on the campaign of the product. In the March quarter, the company's earnings grew by 4.1 percent to Rs 454.28 crore on an annual basis. The margin has seen an increase of 24BPS. It reached 15.84 percent compared to the March quarter a year earlier.
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| MD, Varun Berry |
⇛Berry said that our focus is to benefit from cost reduction, reduction in wastage, and fixed cost which helped us in operating profit in the March quarter. Talking about the first quarter of FY2021, the revenue growth in April was 20 percent while in May, it was 28 percent. In April, the company announced an interim dividend of Rs 35 per share in 2019-20. In the last one year, the company's stock is 17 percent larger, so far this year, it is 14 percent larger.
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