Britannia profits up 125% in Q2; growth momentum continues

Kolkata, Oct 24 (UNI) Britannia Industries Ltd. (BIL), one of India's leading food companies, reported sales of Rs. 658.8 crore for the quarter ended September 30, 2007, representing 20 per cent growth over the corresponding quarter last year.

Net profit for the quarter at Rs.48.5 crore was more than double the corresponding quarter last year of Rs. 21.2 crore.

For the half year ended September 30, the revenue grew 19.6 per cent to Rs. 1235.6 crore, while net profit at Rs. 84.6 crore was 64.6 per cent higher than last year's.

Commenting on the performance, Ms Vinita Bali, Managing Director, said, "We continue to build on the growth momentum of last year. We have added 340 basis points to our margin through higher price realization as well as innovation." The increase in profit has been achieved despite the continuing and unprecedented increase in prices of key commodities like flour, oils and dairy products, she added.

During the quarter, the company launched 'Treat Choco Gelo', an extension of the treat franchise with 'double masti' of chololate&caramel and also introduced a range of premium indulgence cookies under 'Pure Magic' brand. Investing in advertiing and sales promotion has been increased by 50 per cent to fuel the innovation led growth.

UNI