Britannia Q2 net rises 19 per cent to Rs37.85 crore

Britannia Industries Ltd. (BIL) has posted a net profit of Rs37.85 crore for the quarter ended 30 September 2011 against Rs31.87 crore for the quarter ended 30 September 2010, a 19 per cent increase year-on-year.

The biscuits and cookies company reported an 18.2 per cent increase in its quarterly income to Rs1,294.1 crore from Rs1,107.70 crore in the previous year quarter.

For the half-year ended 30 September 2011, the company reported a 23.2 per cent increase in its net profit at Rs79.7 crore. Total revenue for the first half of the fiscal grew 19.6 per cent to Rs2,400.4 crore.

Consolidated net profit for fiscal first half rose 49.6 per cent to Rs82.4 crore while consolidated sales at Rs2,620.2 crore grew 20 per cent.

"We continue to drive consumer off-take, cost effectiveness & operational efficiencies to generate profitable growth and at the same time have created a robust innovation funnel to fuel new growth,'' Vinita Bali, managing director, said.

Earlier in the day, Britannia unveiled 2 new products under the NutriChoice brand – NutriChoice Multigrain Thins and NutriChoice Multigrain Roasty, which provide healthy snacking options.