Shares of Britannia Industries declined over 2 per cent after the company reported a consolidated net profit of Rs 360 crore for the quarter ended March 31. Profit in the year-ago period stood at Rs 372 crore.
Revenue from operations increased 9 per cent to Rs 3131 crore for the quarter ended March 2021, with volume growth at 8 per cent. The company reported consolidated revenue growth of 13 per cent for the year to Rs 12,883 crore. Consolidated Operating Profit climbed 39 per cent to Rs 2,311 crore in FY21.
"The year has been difficult and challenging in every possible way. Despite the adverse conditions, the company managed to deliver good results in terms of topline growth, profitability improvement, and market share gains," said Mr. Varun Berry, Managing Director
"During the quarter, the company continued focussing on the basic building blocks of our business, direct reach, rural distribution & brand building. Its cost efficiency program for the year delivered the targeted results giving us strong cost leadership," he added.
"On the commodity cost front, palm oil, packing material, and dairy products witnessed sudden and steep increases while strategic buying helped the company manage the cost increases better. We are evaluating the long-term impact of these increases to action necessary price increases while ensuring competitiveness," he noted.
The stock ended in red at Rs 3480.05, down 1.69 per cent on the BSE. It hit an intra-day low of Rs 3469.20 in today's trading session. The FMCG major has delivered 9 per cent returns over the last 12 months.
Also Read: Axis Bank share price soars post Q4 results