INDIA: Britannia posts half-yearly profit
Indian biscuit maker Britannia Industries has booked an increase in half-year profits today (30 October) despite high commodity inflation.
For the six months to 30 September, net profit increased 30.6% to reach INR1.01bn (US$21.3m).
Consolidated revenue for the period reached INR17.64bn, a 6.6% increase on the previous year.
MD Vinita Bali said: "In an environment of high commodity inflation and increasing competitiveness, we have maintained operating margin and generated IRN2.5bn of operational cash flow. The focus is on commercialising consumption opportunities both in the bakery and dairy business.
For the second quarter, profit increased 10.8% to reach IRN591m, while revenue reached INR8.58bn.
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