Categories: Business

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

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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

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