Britannia Q2 net profit zooms to Rs 270.46 crore

Bakery and dairy products maker Britannia Industries on Friday reported two-fold increase in its consolidated net profit at Rs 270.46 crore for the second quarter ended on September 30, on account of cost efficiencies and increased off-take.

The company had posted a consolidated net profit of Rs 97.64 crore in July-September period of previous fiscal, Britannia Industries said in a filing to the Bombay Stock Exchange (BSE).

Total income from operations rose to Rs 1,974.51 crore during the quarter, up 12.45 per cent against Rs 1,755.75 crore in the same period of previous fiscal.

Britannia Industries Managing Director Varun Berry said, "We continue to drive consumer off-take and focus on cost efficiencies. This has resulted in second quarter consolidated revenue growth of 12 per cent with 43 per cent increase in profit from operations on an equalised basis".

On the outlook of the company, he said: We will continue to launch new products in the coming months.

For the first half of 2014-15, Britannia Industries' consolidated net profit also doubled to Rs 384.12 crore as against Rs 187.13 crore in the same period last year.

Britannia Industries' total income during the six-month period increased by 13.73 per cent to Rs 3,761.50 crore, as against Rs 3,307.26 crore in the same period previous fiscal.

Shares of Britannia Industries on Friday closed at Rs 1625.15 per scrip on BSE, up 1.71 per cent from their previous close.