Britannia Posts 53 Per Cent Rise In Q1 Profit

Mumbai, July 29: | Updated: Jul 30 2003, 05:30am hrs
Britannia Industries has posted a 53 per cent increase in net profit at Rs 28.6 crore for the first quarter ended June 30 against Rs 18.7 crore during the corresponding period previous fiscal. Net sales increased by 8.3 per cent from Rs 310.9 crore to Rs 336.9 crore during the quarter under review.

Despite depressed sales growth in the FMCG sector and the transporters strike in April, gross sales for the quarter grew by 5% over last year, according to the company here on Tuesday. Market conditions remained extremely competitive especially in the FMCG sector with most companies resorting to consumer promotions and trade loads to meet topline growth.