Britannia Industries said that its consolidated net profit declined 3.76% to Rs 536.61 crore in Q4 FY24 as compared with Rs 557.60 crore in Q4 FY23.
Revenue from operations increased 5.45% to Rs 4,104.07 crore in the quarter ended 31 March 2024 as compared with Rs 3892.02 crore posted in the quarter ended 31 March 2023.Profit before tax (PBT) fell 3.48% YoY to Rs 734.62 crore in Q4 FY24.
The companys operating profit stood at Rs 708 crore while operating margin was at 17.6% during the quarter.
On full year basis, the companys consolidated net profit declined 7.86% YoY to Rs 2,134.22 crore. Revenue from operations jumped 3.51% in Q4 FY24 as compared with Rs 15,984.90 crore posted in corresponding quarter last year.
Meanwhile, the companys board has declared a dividend of Rs 73.5 per share for FY24.
Varun Berry, vice chairman & managing director, said, In a tepid consumption scenario, our performance this year signifies resilience and competitiveness. Over the past 24 months, we have achieved a strong 19% growth in revenue, accompanied by a notable 43% increase in operating profit. Our market share rebounded as the year progressed as a result of strategic pricing actions to maintain competitiveness and intensified investments in brands, supported by distribution expansion.
We significantly expanded our distribution network, reaching approximately 27.9 lakh outlets directly and added around 2000 rural distributors over the past year. Our focus states surpassed other regions in terms of growth, despite a generally subdued rural demand. We bolstered our abilities to capitalize on rapidly growing channels like Modern Trade and Ecommerce, both of which experienced double-digit growth compared to the previous year.
On Cost & Profitability front, we will stay vigilant of the commodity prices & evolving geopolitical landscape. Our Cost Efficiency Program continues to yield operational savings of approximately 2% of revenues, ensuring healthy operating margins. We will continue to invest behind our brands and stay price competitive with a clear objective of driving market share while sustaining profits.
Britannia Industries (BIL) is one of India's leading FMCG companies. The company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products.
The scrip rallied 8.23% to Rs 5,135.90 on the BSE.
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