Britannia Industries, one of India’s leading food companies, has reported a 4.2% increase in its profit for the fourth quarter (Q4) of the financial year 2022-23. The company’s profit stood at Rs 559.13 crore, up from Rs 536.44 crore in the corresponding quarter of the previous year. The company’s sales revenue also saw a 9% increase, reaching Rs 4,375.6 crore, compared to Rs 4,028.6 crore in the same quarter last year.
The company’s total expenses for the quarter increased by 10.3% to Rs 3,783.4 crore, driven by higher raw material costs, fuel, and packaging expenses. However, the company’s operating margins remained stable at 15.7%, despite the rise in input costs.
Britannia’s revenue growth was driven by a 12% increase in its biscuits segment, which accounts for the majority of its sales. The company’s biscuit sales were boosted by strong demand for its premium and mid-premium brands, such as Good Day and Marie Gold. The company’s bread and dairy segments also saw significant growth, with revenue rising by 10% and 15%, respectively.
The company’s international business also performed well, with revenue growing by 12% during the quarter. Britannia’s exports were driven by strong demand from countries such as the Middle East, Africa, and Southeast Asia.
Commenting on the results, Britannia’s Managing Director, Varun Berry, said that the company had delivered a strong performance despite a challenging operating environment. He attributed the company’s success to its focus on premiumization, innovation, and expansion into new markets.
Looking ahead, Britannia is expected to continue its growth momentum, driven by its strong brand portfolio, expanding distribution network, and increasing demand for packaged foods. The company is also investing in digital transformation and e-commerce to stay ahead of the competition. With its strong Q4 performance, Britannia has closed the financial year 2022-23 on a positive note, and investors will be keenly watching the company’s progress in the coming quarters.