Categories: Business

Coronavirus Lockdown Gets Britannia Industries Great Advantage, Net Profit Twice In First Quarter


Britannia Industries Q1 profit jumps over two fold to Rs 542.68 crore

new Delhi. Food products manufacturer Britannia Industries reported a net profit of Rs 542.68 crore in the first quarter of the current fiscal year ended June 30, 2020 on an integrated basis. This is more than twice that of the year before. The company gave its information on Friday. The company made a profit of Rs 248.64 crore in the same quarter of the previous financial year. The company said the increase in net profit is due to higher income.

Britannia Industries told the stock market that total income during the period under review grew by 26.97 per cent to Rs 3,514.35 crore as against Rs 2,767.8 crore in the year-ago quarter. Britannia Industries managing director Varun Berry said the quarter reported due to the Kovid-19 pandemic disrupted the economy and the nationwide lockdown to prevent the pandemic also created obstacles. Factories, depots, transport, vendors affected the entire supply chain.

He said that as the lockdown restrictions were relaxed, the company focused on bringing distribution back to pre-epidemic levels and increasing access to rural and interior areas. Berry said that on the cost front, we saw moderate inflation in key raw material prices and expected prices to remain stable given the positive outlook on the monsoon and crop.

He said that given the dynamic trend and uncertainty of the epidemic, the company immediately focused on reducing costs. For this, the efficiency of the supply chain was enhanced, raw material wastes were reduced and costs and expenses were streamlined. Berry said that in view of the current situation, the company has also arranged expenditure on media and advertising. He said that the company is constantly studying the impact of Kovid-19 on consumer preference, distribution model and short-term change.

This post was published on July 17, 2020 4:10 pm

Content Team

Recent Posts

ICICI Bank raised Rs 15,000 crore from QIP, issued 41.89 crore shares to investors at Rs 358

Photo: BUSINESS INSIDER INDIA ICICI Bank closes QIP; garners Rs 15,000 cr from share sale new Delhi. ICICI Bank, the…

Jio-RCom spectrum sharing deal not connected with AGR liability | Jio-RCom spectrum partnership deal not linked to AGR liability, will not pay

Photo: YAHOO FINANCE Jio-RCom spectrum sharing deal not connected with AGR liability new Delhi. Reliance Jio's four-year-old telecom spectrum partnership…

Google Pixel 5 May Only Launch in XL Variant will be launched in India this year, only Google Pixel XL, phone will not be launched on small screen

Photo: GADGET 360 Google Pixel 5 May Only Launch in XL Variant San Francisco. Google is reportedly planning to launch…