Britannia Industries Achieves Profit Rise Amidst Market Challenges

Britannia Industries Ltd reported a 4.8% increase in net profit for Q3 2024, driven by volume gains and strategic price hikes. Revenue rose by 7.9%, while managing challenges like inflation on key materials. The company saw growth across core and adjacent businesses, maintaining market competitiveness.

Leading biscuits maker Britannia Industries Ltd has announced a 4.8 percent increase in its consolidated net profit, reaching Rs 582.3 crore for the third quarter ending December 2024. This growth was achieved through volume gains and price adjustments.

In comparison, the company reported a net profit of Rs 555.66 crore in the same period the previous year, according to Britannia's regulatory filing. While revenue from operations rose by 7.9 percent to Rs 4,592.62 crore, the company faced ongoing challenges such as inflation on key materials including wheat and cocoa.

Despite subdued FMCG demand and competitive pressures, Vice Chairman & Managing Director Varun Berry highlighted the company's robust performance, citing a 6-percent growth in value and volume year-on-year. Berry credited judicious price hikes and strategic brand investments for maintaining operating margins amidst rising expenses, which increased by 9.3 percent to Rs 3,874.65 crore in the December quarter.

(With inputs from agencies.)