Britannia Industries to remain focused on driving market share: Varun Berry

Britannia Industries said it remains focused on its strategy to drive market share while sustaining profits.

 

Discussing the outlook, Varun Berry, vice chairman and managing director of Britannia Industries, told analysts during a conference call after the results that the company is closely monitoring the commodity situation and taking steps on a day-to-day basis.

 

“We are very vigilant about competitive pricing actions because we understand that as market leaders, we need to take the lead. However, we do not want to be uncompetitive, and that is something we are keeping an eye on,” he said.

 

The company reported a 9.6 per cent decline in net profit, which stood at Rs 531.5 crore in the July-September quarter compared to the same period last year.

 

 

Total revenue grew 5.1 per cent to Rs 4,713.6 crore in Q2 FY25 compared to the same period last year, with an 8 per cent volume growth in the quarter.

 

The biscuit major’s profit before interest, tax, and depreciation fell 10.6 per cent to Rs 825.9 crore.

 

Commenting on the current demand scenario, Berry said, “We understand that the demand scenario in India is not as robust as it has been in the past. So we are trying to balance it. We do not operate on a quarter-to-quarter basis; we aim to build a robust, solid business in the long term,” he said.

 

He also mentioned that if the company feels that volumes are under stress, it will be cautious about implementing price increases. “We will try and balance both. There may be some impact on volumes, but it’s a short-term issue,” he added.

 

Berry noted that the company will be cautious with price increases over the next six to nine months.

 

On Tuesday, Britannia Industries shares closed down 7.3 per cent at Rs 5,038 apiece on the National Stock Exchange (NSE).