Britannia Industries reported a 49 per cent increase in net profit to Rs 92 crore for the fourth quarter ended March, compared to the year-ago period. Revenue grew 12 per cent to Rs 1,637 crore.
Commenting on the performance, Managing Director Vinita Bali said, “Our results are a reflection of our focus on driving consumer off-take and operational efficiencies to generate sustainable and profitable growth, which has resulted in a standalone revenue growth of 12.5 per cent and net profit increase of 25.2 per cent for the year. We have also seen a 100 basis points increase in operating margin.”
She added as the inflation was under control to a large extent during the fourth quarter, the company had been able to managed raw materials cost within a good bandwidth.
For 2012-13, net profit grew 30 per cent to Rs 260 crore, while revenue grew 12.4 per cent to Rs 6,136 crore. Britannia’s international operations grew 14 per cent during the year. The board of directors recommended a dividend of 425 per cent i.e. Rs 8.5 a share.
Sees exit of key senior executive
The company saw the exit of one of its senior executives, Neeraj Chandra, who was vice-president, strategy & new business development. Chandra had been with the company since August 2005, and prior to the new role, was the chief operating officer and vice-president since 2008. In January, the company roped in Varun Berry to replace Chandra as COO. Berry has extensive experience, having had stints with PepsiCo and Unilever, among others.
