Food company Britannia Industries on Friday posted 50% year-on-year growth in consolidated net profit for the September quarter, excluding the Rs 124-crore profit it made from the sale of land and buildings. Net profit stood at Rs 270 crore against the Rs 98 crore it reported for the corresponding quarter of the previous fiscal.
The company reported a consolidated income of Rs 1,955 crore for the second quarter of FY 15, up 12.4% from the Rs 1,740 crore it reported for the same period last year.
“We continue to drive consumer offtake and focus on cost efficiencies. This has resulted in Q2 consolidated revenue growth of 12% with 43% increase in profit from operations on an equalised basis. Our innovation journey has now begun with the launch of NutriChoice Heavens and we will continue to launch new products in the coming months,” said Varun Berry, managing director of Britannia.
Britannia operates in two business segments including bakery and dairy products. The company’s subsidiary Daily Bread Gourmet Foods, (Daily Bread) is a manufacturer and retailer of bakery products.