Bengaluru: FMCG Britannia Industries said on Monday that its consolidated net profit for the quarter ended March 31, 2022 rose 5% year-on-year to Rs 377.95 crore from Rs 360.07 crore recorded in the period. corresponding to the previous year.
The company’s revenue jumped 15.5% to Rs 3,508 crore in the January to March quarter of 2022 from Rs 3,038 crore recorded in the corresponding period last year.
“In this quarter, we delivered solid revenue growth of 15% and mid-single-digit volume growth, demonstrating the resilience of our brands and reflecting our execution strengths across all divisions. and all channels,” Varun Berry, Managing Director, Britannia Industries Ltd, said in a statement.
“We have continued to accelerate our rural journey with a focus on improving reach and maintaining our diligent market practices, which is evident in the consistent market share gains over the years. Our growths in organized commerce channels remained robust, where e-commerce revenue doubled from last year,” he said.
Berry noted that the economy was affected by global geopolitical factors which caused inflation to spike again in the quarter under review.
“We continued to take price increases wisely and remained aggressive on the cost front. Under these difficult circumstances, our operating profit for the quarter increased by 10% and over a 24-month period, by 23% We will further take calibrated price increases and drive cost containment to manage profitability,” he added.