Britannia Q4 profit up 26% to Rs 372 crore

BENGALURU: Biscuit maker Britannia reported a 26% increase in fourth quarter profit to Rs 372 crore while revenue from operations was up 1.5% increase to Rs 2807 crore.
“After 9 months of moderate growth, we started to see growths coming back in the first 2 months of this quarter which was then hit by Covid 19 & lockdown in March impacting the revenue & net profit growths by an estimated 7-10%,” said managing director Varun Berry.
The company was also helped by a relatively moderate inflation in the prices of key raw materials for the bakery business due to low demand on account of lockdown in most parts of the world. Cost efficiencies helped it with 40 basis points increase in operating profit during the quarter.
“We witnessed a revenue growth of 20% in April’20 & 28% in May’20 versus the corresponding months in the previous year,” Berry added.