Britannia Industries Q2FY23 Results: Profit rises 28.5% to Rs 490.58 crore; income up 21% to Rs 4,380 crore

Bakery foods company Britannia Industries Ltd on Friday reported a 28.47 per cent increase in consolidated net profit at Rs 490.58 crore for the second quarter ended September 30, 2022, helped by volume growth.

The company had posted a net profit of Rs 381.84 crore in the July-September quarter a year ago, Britannia Industries said in a BSE filing.

Its total revenue from operations climbed 21.40 per cent to Rs 4,379.61 crore from Rs 3,607.37 crore in Q2 FY22.

The company has recorded its "highest quarterly revenue", Britannia Industries said.

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Total expenses were at Rs 3,773.71 crore in the second quarter of FY23, up 20.25 per cent from Rs 3,138.15 crore in the year-ago period.

Britannia Managing Director Varun Berry said, "We have witnessed positive growth momentum over the last few months. Our Go-to-market strategy and increase in distribution reach have converged to deliver a robust topline growth of 22 per cent YoY and 19 per cent QoQ, aided by a mid-single digit volume growth, as we record our highest quarterly revenue."

Shares of Britannia Industries Ltd on Friday settled at Rs 3,801.30 on BSE, 1.46 per cent higher than its previous close.