Left Menu
Development News Edition

Britannia Industries Q1 net profit falls 3.64 pc to Rs 248.64 crore

PTI | New Delhi | Updated: 09-08-2019 11:42 IST | Created: 09-08-2019 11:41 IST
Britannia Industries Q1 net profit falls 3.64 pc to Rs 248.64 crore
Image Credit: StoryBlocks

Britannia Industries on Friday reported a 3.64 percent decline in consolidated net profit at Rs 248.64 crore for the quarter ended June 30, 2019. The company had posted a net profit of Rs 258.08 crore in the corresponding quarter of the previous fiscal.

Total income during the period under review stood at Rs 2,767.8 crore, up 7.03 percent, as against Rs 2,585.84 crore in the year-ago quarter, Britannia Industries said in a regulatory filing. During the quarter, the company also posted an exceptional expense of Rs 15.61 crore on account of voluntary retirement cost incurred in one of its subsidiaries.

Britannia Industries Managing Director Varun Berry said, "We outpaced the market and strengthened our market position during this phase of sluggish demand. Our journey to become a total foods company is progressing well with a good response to our new products". Berry said, on the cost front, the company has witnessed moderate inflation in the prices of key raw materials for the bakery business.

"However, the inordinate increase in milk prices impacted the profitability of our dairy business adversely. We strengthened our brand equity through focused campaigns and invested in building capabilities and structures for both our base business and strategic business units to drive future growth," he added. Shares of Britannia were trading 0.57 percent higher at Rs 2,593.65 apiece on BSE.



5G will be the key driving force for COVID-19 recovery: Here's how?

... ...

Canada’s COVID-19 pitfalls highlight need for integrated health information system

In the globalized world of today where outbreaks can spread far and wide within a matter of days, a global-level integrated health information system is ideal but Canadas provincial barriers show that the country lags much behind in deployi...

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...


Latest News

In a first, Airbnb takes action against guest for party

For the first time, Airbnb is taking legal action against a guest for violating its ban on unauthorised parties. The San Francisco-based home sharing company said Wednesday it is initiating legal proceedings against a guest who held an unau...

Biden raises USD 26 m in 24 hours after VP announcement

Joe Biden raised USD 26 million in the 24 hours after he named Kamala Harris as his running mate, doubling his previous one-day record and signaling enthusiasm among Democrats following the selection of the first Black woman on a major part...

3 top leaders of Chinese Communist Party have relatives who own assets in Hong Kong: Report

The three top leaders of Chinese Communist Party including President Xi Jinping, have relatives who own assets in Hong Kong, an investigation by the New York Times revealed. Li Qianxin, the elder daughter of the Chinese Communist Partys No....

Indian-Amrican muslims, Sikhs hail Kamala Harris's selection for Democratic party's vice presidential nominee

Indian-American Muslims and Sikhs here have hailed the selection of Senator Kamala Harris as the Democratic partys vice-presidental candidate, calling it a remarkable success for the entire community. Democratic partys presidential candidat...

Give Feedback