Britannia Industries Chairman Nusli Wadia has reason to smile. The dip in net profit earlier has been overcome. The Rs 6,185 crore company's first declaration of quarterly results after the major reshuffle in May - when Managing Director Vinita Bali was made head of its international business while Chief Operating Officer
Varun Berry took over the domestic operations - shows an increase in profit after tax by a whopping 93.7 per cent to Rs 89.5 crore, while net sales rose by 14.6 per cent to Rs 1,539.6 crore.
"The Britannia results were better than both our estimate and the general consensus," says V. Srinivasan, Research Analyst, FMCG, Angel Broking. Analysts say that the company's focus on a premium product portfolio and better cost management helped it improve its profit margins.
Berry has also been saying that the emphasis would be to get Indian consumers to buy premium confectionery and dairy products. It does seem as if his strategy is working.
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