‍Britannia Records 3.5% Consolidated Sales Growth in 2023-24, Accompanied by a 10.1% Rise in Operating Profit

In the fiscal year 2023-24, Britannia reports a 3.5% increase in consolidated sales alongside a 10.1% growth in operating profit. These figures underscore the company's sustained growth and financial strength, indicating positive performance in its operations and market presence during the period.

In the fiscal year 2023-24, Britannia's total revenue reached Rs 16,546 crore, marking a 3.5% increase from the previous year, with operating profit at Rs 2,869 crore, reflecting a growth of 10.1%. For the quarter ending March 31, 2024, consolidated sales stood at Rs 4,014 crore, up 3.1% from the previous year, with operating profit at Rs 708 crore. The Board of Directors proposed a final dividend of 7350%, equivalent to Rs 73.5 per share with a face value of Re. 1 each.

Varun Berry, Vice Chairman & Managing Director, remarked, "Despite subdued consumer spending, our performance this year reflects resilience and competitiveness. Over the past 24 months, we achieved a robust 19% revenue growth and a notable 43% increase in operating profit. Strategic pricing actions and brand investments contributed to market share gains, supported by expanded distribution networks reaching approximately 27.9 lakh outlets directly. Additionally, we added around 2000 rural distributors in the past year. Our focus states outperformed other regions despite subdued rural demand. We enhanced our capabilities in rapidly growing channels like Modern Trade and E-commerce, both experiencing double-digit growth compared to the previous year."

"In terms of cost and profitability, we remain watchful of commodity prices and geopolitical developments. Our Cost Efficiency Program consistently delivers operational savings of approximately 2% of revenues, maintaining healthy operating margins. We will persist in brand investments and competitive pricing to drive market share while sustaining profits. Our commitment to the ESG framework—People, Growth, Governance, and Resources—remains steadfast in building a sustainable and profitable business," he concluded.

Source: fnbnews