Britannia Industries quarterly net profit up 65.5%

Our results are a reflection of our focus on driving consumer off-take: Vinita Bali

Confectionery major the Nusli Wadia-led Britannia Industries today posted 65.66 per cent rise in net profit at Rs 87.85 crore for the fourth quarter ended March 31.

The company had reported net profit of Rs 53.03 crore during the January-March quarter of 2011-12 fiscal.

Net sales rose to Rs 1,486.63 crore during Q4,2012-13,as against Rs 1,309.57 crore in the same period of 2011-12 fiscal,Britannia Industries said in a statement.

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“Our results are a reflection of our focus on driving consumer off-take and operational efficiencies to generate sustainable and profitable growth,” Britannia Industries Managing Director Vinita Bali said.

For the year ended March 31,2013,the company posted net profit of Rs 233.87 crore,compared to Rs 186.74 crore in the 2011-12 financial year.

Net sales of the company rose to Rs 5,564.38 crore for 2012-13,as against Rs 4,947.04 crore in the previous fiscal.

The company’s board,which met today,recommended a dividend of 425 per cent–Rs 8.5 per share.

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Britannia Industries shares closed at Rs 574.45 on the BSE,down 0.21 per cent from its previous close.

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