Britannia’s consolidated revenue in 2024 up

Operating profit for 2024 grows 10.1%; net profit for Q4 down

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Britannia’s
According to the Economic Times, the company reported a consolidated net profit of Rs 538.28 crore for the quarter ended 31 March 2024

FMCG major Britannia’s consolidated sales for the quarter ended 31 March 2024 stood at Rs 4,014 crores, growing 3.1% over last year. Operating profit stood at Rs 708 crore (17.6% of sales). For the year ended 31 March 2024, consolidated revenue was Rs 16,546 crore, growing 3.5% over the previous year. The operating profit was Rs 2,869 crore, growing at 10.1% (17.3% of sales).

The board of directors recommended a final dividend of 7350% – Rs 73.5 per share of face value of Re 1 each, the company said in release.

According to the Economic Times, the company reported a consolidated net profit of Rs 538.28 crore for the quarter ended 31 March 2024, down by 3.6% on a year-on-year basis over Rs 558.66 crore reported in the year-ago period. The PAT was in line with the Street’s estimates, which predicted the same at Rs 537 crore.

Commenting on the performance, Varun Berry, vice chairman & managing director, said: “In a tepid consumption scenario, our performance this year signifies resilience and competitiveness. Over the past 24 months, we have achieved a strong 19% growth in revenue, accompanied by a notable 43% increase in operating profit. Our market share rebounded as the year progressed as a result of strategic pricing actions to maintain competitiveness and intensified investments in brands, supported by distribution expansion.

We significantly expanded our distribution network, reaching approximately 27.9 lakh outlets directly and added around 2000 rural distributors over the past year. Our focus states surpassed other regions in terms of growth, despite a generally subdued rural demand. We bolstered our abilities to capitalize on rapidly growing channels like Modern Trade and eCommerce, both of which experienced double-digit growth compared to the previous year.

On the cost & profitability front, we will stay vigilant of the commodity prices & evolving geopolitical landscape. Our Cost Efficiency Program continues to yield operational savings of ~2% of revenues, ensuring healthy operating margins. We will continue to invest behind our brands and stay price competitive with a clear objective of driving market share while sustaining profits.

We remain committed to the ESG framework of people, growth, governance and resources to build a sustainable and profitable business.”

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