Commenting on the results Britannia Industries MD Varun Berry said:We continued to grow faster than the market with a sequential revenue growth of 13 per cent. In the base business, we continued our premiumisation and innovation journey... during this phase of sluggish demand, we continued to invest in enhancing our brand equity through focused product campaigns."
On the cost front, the company witnessed moderate inflation in the prices of key raw materials for the bakery business, while there was an inordinate increase in milk prices which impacted dairy business, he added.
"We, however, accelerated the drive on cost efficiencies and leveraged fixed costs which helped us in improving the shape of our business and deliver highest ever operating profits in the quarter," he noted.
Total expenses stood at Rs 2,617.64 crore during the period as against Rs 2,454.58 crore, up 6.64 per cent.
Shares of Britannia Industries Ltd on Monday settled at Rs 3,116.25 apiece on the BSE, down 1.43 per cent from the previous close.
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