India's leading food company Britannia Industries has reported Q2 consolidated revenue of Rs.1,955 crores (PY - Rs.1,740 crores), which is a growth of 12.4%.
For six months ended 30th September 2014, consolidated revenue was Rs.3,728 crores (PY - Rs.3,280 crores), which is a growth of 13.7% Standlone revenue of Q2 was Rs.1,801 crores (PY - Rs.1,594 crores), which is a growth of 13% and for the six months was Rs.3,420 crores (Rs.2,998 crores), which is a growth of 14.1%.
Consolidated Profit from operations on an equalised basis (after excluding the impact of additional depreciation basis revision in estimated useful lives of fixed assets as per schedule II of Companies Act 2013) was Rs.200 crores (PY-Rs.140 crs) which is a growth of 42.9% and for six months ended 30th September 2014 was Rs.348 crores (PY - Rs.258 crores), which is a growth of 34.8%. On a standalone basis, Profit from operations on an equalised basis was Rs.180 crs (PY - Rs.138 crs) for Q2, which is a growth of 31.1% and for the six months was Rs.323 crs (PY-Rs.252 crs), which is a growth of 27.9%.
Net Profit for Q2 on a consolidated basis was Rs.270 crs (PY-Rs.98 crs) and for six months was Rs.384 crs (PY - Rs.187 crs) both of which include Rs. 124 crs(post-tax) of profit from sale of land & building. Excluding the one-time profit on sale of land & building, growth in Net Proft for Q2 & six months was 50% & 39% respectively.
Net Proft for Q2 on a standalone basis was Rs. 253 crs (PY - Rs. 96 crs) and for six months was Rs.361 crs (PY - Rs. 182 crs) both of which include Rs. 124 crs of profit from sale of land & building. Excluding the one-time profit on sale of land & building, growth in Net Profit for Q2 & six months was 35% & 30% respectively.
Commenting on the performance, Mr. Varun Berry, Managing Director, said: "We continue to drive consumer off-take and focus on cost efficiencies. This has resulted in Q2 consolidated revenue growth of 12% with 43% increase in profit from operations on an equalized basis. Our innovation journey has now begun with the launch of NutriChoice Heavens and we will continue to launch new products in the coming months".
