Biscuit, bakery and dairy products maker Britannia Industries expects substantial additions from its dairy segment to its revenues this fiscal.
According to managing director Vinita Bali, dairy is growing in high double digit in terms of top line and profitability. She did not however give numbers. Bali was speaking at an event to mark the launch of TigerZor milk..
The company made a beginning in dairy products with its cheese, curds and similar offerings and expanded the line with the launch of TigerZor Choco Milk, a milk-based chocolate drink in Hyderabad and Bangalore on Monday.
Bali said the company was creating a new niche of micronutrient fortified drinks.
The flavoured drink market is estimated at Rs250 crore and is set to grow 15 per cent annually. With the new launch the company now has two offerings and plans to launch more.
Bali added that profit margins of the bakery industry in general were down on high costs of commodities, particularly wheat, sugar and milk. She added that the margins would stabilise once food inflation eased.