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Britannia enjoys big profits rise

This article was originally published in Foodnews

INDIAN food giant Britannia Industries has announced a net profit rise of 22.61% or INR500.0 million (USD9.5 million) for its fourth quarter ended 31 March 2012. This compares with INR432.5 million in the last fiscal year. Net sales rose to INR13.1 billion during the quarter against INR11.2 billion last year. For the year ended March 31, 2012, the company posted a net profit of INR1.86 billion compared with INR1.45 billion during 2010-11. Commenting on the results, Britannia Industries Managing Director Vinita Bali said, “Our three priorities during the year were managing revenue, managing cost and generating new value through innovation in products, processes and technology. “This focus enabled us to deliver a topline growth of 19% and profit growth of 48.5% on a consolidated basis. Each business in India and overseas showed significant improvement in performance.”

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