Britannia net up 25% in Q4

Britannia net up 25% in Q4

The board of directors of the company has recommended a dividend of Rs 25 per share.

India's largest food products company Britannia Industries Ltd (BIL) on Wednesday reported 25% jump in net profit at Rs 264 crore for the fourth quarter ended March 2018. Its consolidated revenue for the quarter grew 13% at Rs 2,510 crore.

For the year ended March 2018, the company's net profit grew 14% at Rs 1,004 crore on a revenue of Rs 9,830 crore, the company said in a statement.

The board of directors of the company has recommended a dividend of Rs 25 per share (1,250%).

"We have witnessed positive momentum in the market growth over the last few months. Our double digit growth for the quarter is backed by a double digit volume growth on the back of investment in brands and widening our distribution network through focus on direct reach, rural market and weak states," Varun Berry, Managing Director said.

The company continued Premiumisation & Innovation journey with launch of “Milk Bikis Good Morning”, "Nutri Choice Oats Chocolate & Almond” “50-50 Jeera” and revamp of our Tiger Cookies portfolio, he said.

"Our international business grew in double digits despite a slow-down in many geographies like Middle East and Africa. While the growth in Dairy business has also been subdued due to our focus on driving value added products and reducing our play in the less profitable commoditised products, profitability has improved considerably," Berry added.

He also announced commercialisation of greenfield factories at Guwahati, & SEZ in Mundra for servicing export markets. In addition, Britannia is also also setting up an Integrated Food Park at Ranjangaon, Maharashtra & a Greenfield plant at Nepal which will be its fourth country with local manufacturing.