Britannia Industries on Friday reported a net profit of Rs 190.23 crore, a year-on-year increase of 13.73% for the quarter ending March 2016 on the back of double digit volume growth. Net sales during the period was at Rs 2,189.83 crore, up 7.77%. Although Ebitda for the quarter grew by 15.12% year-on-year at Rs 291.2 crore, Ebitda margin remained flat.
The quarter witnessed an increase in ad spends at Rs 208.68 crore as the company had been associated with Filmfare awards and Asia Cup T20.
“Our focus on supply chain efficiencies, wastage reduction, accelerated cost efficiency programme and soft commodity prices helped us expand our operating margins by 360 basis points during the year,” said Varun Berry, managing director.
Britannia Industries ended 2015-16 with net sales of Rs 8,607.06 crore, up 11% and net profit of Rs 806.11 crore, up 43%. “We strengthened our back end with successful commissioning of two new factories in Tamil Nadu and Karnataka and reinforced our innovation capability with state of the art R&D centre in Bangalore. While our category growths are expected to remain subdued, we are confident of keeping our momentum going,” said Berry.