Britannia Industries today reported nearly two-fold rise consolidated net profit to Rs 89.58 crore for the first quarter ended June 30,2013,due to improvement in product mix and higher price relisation.
The company had posted a consolidated net profit of Rs 46.50 crore for the same period previous fiscal.
Company’s consolidated income increased to Rs 1,539.62 crore in the April-June quarter,from Rs 1,348.15 crore during the same period last year,Britannia Industries said in a filing to the BSE.
“The expansion in margin is consequent to an improvement in product mix and higher price realisation coupled with an emphasis on cost management — the growth we saw in the second half of last year,continued,” Britannia Industries Managing Director Vinita Bali said.
Britannia Industries shares were trading at Rs 747 on BSE,up 7.59 per cent from its previous close.