On May 3, Britannia revealed a consolidated net profit for the March quarter of Rs 536.61 crore, a 3.76 percent decrease from Rs 557.60 crore in the same quarter of the prior fiscal year.
According to a regulatory statement, the company’s overall sales increased 1.14 percent to Rs 4,069.36 crore from Rs 4,023.18 crore in the same period last year.
Comparatively, the net profit decreased by 3.2% from the Rs 556.39 crore recorded in Q3FY24. In Q3FY24, revenue was Rs 4,126.70, a 4.2 percent decrease from Rs 4,306.89 crore.
For the quarter, earnings before interest, tax, depreciation, and amortization (EBIDTA) decreased by 1.7% to Rs 785.5 crore. A final dividend of Rs 73.5 per share has been recommended by the board of the firm for the fiscal year ending on March 31, 2024.
“Our market share rebounded as the year progressed as a result of strategic pricing actions to maintain competitiveness and intensified investments in brands, supported by distribution expansion,” Varun Berry, Vice Chairman & Managing Director, quoted in an exchange filing.
“We significantly expanded our distribution network, reaching approximately 27.9 lakh outlets directly and added around 2,000 rural distributors over the past year. Our focus states surpassed other regions in terms of growth, despite a generally subdued rural demand,” he continued.
In addition, the firm is still committed to the ESG framework, which emphasizes People, Growth, Governance, and Resources in order to support a successful and sustainable business model.
