Britannia plans price hike to combat high input prices

Biscuit maker, Britannia Industries is planning a hike in its product prices to combat the rising prices of commodities like wheat and sugar. The hike will be around 5-10 per cent.

The biscuit brand saw its profits falling by 30 per cent even though it recorded a 10-per cent topline growth.

The fall in profits was because the company bore the brunt of the rising input costs instead of passing on the hike to consumers, said Vinita Bali, managing director, Britannia Industries.

Britannia also announced its tie-up with Tamil Nadu and Pondicherry state governments to provide a highly fortified energy snack under its 'Tiger' brand for anaemic kids as part of the mid-day meal programme.