Britannia Industries Ltd. (BIL) reported consolidated revenue growth of 26% for the Quarter at Rs. 3,384 crores. Consolidated Net Profit increased by 117% for the Quarter at Rs. 546 crores.

Commenting on the performance, Mr. Varun Berry, Managing Director, said that the quarter posed an uphill task for the economy in wake of Covid-19 and caused significant disruptions due to lock downs imposed to curtail its spread. Factories, depots, transport & vendors across the supply chain were impacted. The top priority was to ensure safety of the employees and the eco-system they work with.

The challenging scenario brought the best out of the team and they implemented some innovative ways of working in Sales, Supply chain & other support functions. As soon as the lock down was eased, they focussed on getting the distribution back to the pre-Covid levels and increasing the rural & hinterland reach. During this period, the company also launched ‘Winkin Cow Lassi’ & a Rs. 5 Layer Cake pack to expand reach. All the adjacent businesses too delivered a healthy profitable growth.

On the cost front, the company witnessed moderate inflation in the prices of key raw materials and expect the prices to be stable going forward given the positive outlook on monsoon & harvest. The company also rationalized media spends considering the constraints of inventories due to higher market demand. These measures helped them improve the shape of the business and record a massive 670 bps increase in operating profit during the quarter.