Britannia Results

While strategic initiatives helped improve profit margins, the 2-4 per cent volume and revenue growth was below expectations

The company's profit before tax (PBT) stood at Rs 498 crore, up 8.5 per cent YoY.

Growth in sales driven by better product mix and price hikes

The net profit for the period grew 33 per cent to Rs 403 crore on a yoy basis on account of re-measurement of deferred tax in accordance with lower corporate tax rate

Volume growth in FY18 was the highest in Rajasthan, Madhya Pradesh and Uttar Pradesh, and is key for Britannia that lags its peers in rural share and penetration

Britannia Industries' net profit grew six per cent over a year in the March quarter, to Rs 211 crore, the food and beverages company said. Net sales were Rs 2,302 crore, up 6.2 per cent.During the quarter, cost of materials rose 11.7 per cent, due to price inflation of key commodities of above 10 per cent. However, changes in inventories and marginally lower other expenses offset the impact; it also cut advertising cost.The dairy business saw subdued growth as it shifted focus towards products that should generate higher profit margin. Growth in its international business remained under pressure due to "deteriorating geopolitical situation and currency fluctuations in geographies like the Middle East and Africa", said Varun Berry, managing director. Adding: "It has been a good quarter in the face of a challenging market environment and sluggish demand scenario post demonetisation. We expect the situation to slowly improve over the next three to six months with the measures announced .