Britannia Q2 net profit rises 28% to ₹490 cr

The consolidated revenue from operations rose by 21.4 per cent to ₹4,379.61 crore from ₹3,607.37 crore in the corresponding quarter last fiscal, said Britannia in its filing.

“We have witnessed positive growth momentum over the last few months. Our Go-to-market strategy & increase in distribution reach have converged to deliver a robust topline growth of 22% YoY & 19% QoQ, aided by a mid-single digit volume growth, as we record our highest quarterly revenue. We continue to have aggressive market share gains, consistently over the past 38 quarters & registers a 15-year high, which is a testimony of our Brand strength & team’s execution capability,” said Varun Berry, Managing Director, Britannia.

“Our direct distribution jumped to 26 lakhs outlets, with an addition of 4 lakhs outlets in the last 6 months. We continue to make strides in our Rural journey and we now have appointed 28,000 Rural Preferred Dealers, which has led to consistent market share gains,” he added.

Earnings before interest, taxes, depreciation, and amortization or EBITDA for the quarter came in at ₹711.7 crore, higher by 27.5 percent from ₹558.3 crore YoY.

“On cost and profitability front, commodity inflation remained on the boil on the back of rising inflation in flour and milk products. In this dynamic environment, as a result of our pricing actions and intensified cost efficiency program, we have been able to improve our operating margins beyond pre-Covid levels,” said Varun Berry.

On Friday, the company’s scrip on BSE closed trading 1.46 per cent higher at ₹3801.30.