Britannia net up 27.3% on cost-cuttingBritannia net up 27.3% on cost-cutting
Processed foods firm Britannia Industries has reported a jump of 27.3% in its net profit at Rs 41.80 crore for the quarter ended June 30.business Updated: Aug 07, 2011 23:35 IST
Processed foods firm Britannia Industries has reported a jump of 27.3% in its net profit at Rs 41.80 crore for the quarter ended June 30.
The company that makes bread, biscuits and dairy products showed a much stronger performance as it controlled costs and improved efficiency. In the same quarter of the previous year, the company's net profit had risen only 2.9%.
"This is our 6th consecutive quarter of 20%+ growth across all businesses," said Vinita Bali, managing director, Britannia Industries. "We continue to focus on cost effectiveness, operational efficiencies and driving consumer off-take to generate growth."
The company's net sales surged 21% to Rs 11,063 crore during the April-June quarter. It also launched several new products including Vita Marie Honey Oats, Britannia Gourmet Cheese and the Tiger Zor — Badam Milk during the quarter.