Britannia net up 157%

The net profit of Britannia Industries has jumped 157 per cent to Rs 27.80 crore for the fourth quarter (Q4) of 2005-06 as compared with Rs 10.80 crore in Q4 of 2004-05.

Net sales also went up by 24.58 per cent to Rs 454 crore in the fourth quarter compared with Rs 364.40 crore in Q4 2004-05.

Earnings per share (EPS) with face value of Rs 10 was Rs 10.76 in the fourth quarter of the financial year ended March 2006 compared with Rs 3.58 in the corresponding quarter of the financial year ended March 2005. The company's board has recommend Rs 15 per share dividend for the year ended March 31, 2006.

For the whole year 2005-06, the net profit was marginally down by 0.94 per cent to Rs 147.40 crore against Rs 148.80 crore in 2004-05.

Net sales increased by 13.50 per cent to Rs 1,713.30 crore compared with Rs 1,509.50 crore in the previous year.

The board has approved the introduction of employee stock option scheme (ESOS) for the benefit of senior management, including executive directors. This proposal is subject to the approval of shareholders at the annual general meeting to be held on July 20.

The total number of options to be granted under the scheme will not exceed 100,000 equity shares of Rs 10 each.

The board has appointed K K Dadiseth as an additional director with effect from May 31, 2006 and Vinita Bali, hitherto the manager of the company, has been appointed managing director with effect from May 31.