HomeEarnings NewsBritannia Industries Q4 results: Net profit drops 3% to Rs 360.01 crore, misses estimates

Britannia Industries Q4 results: Net profit drops 3% to Rs 360.01 crore, misses estimates

Food company Britannia Industries on Tuesday reported a 3 percent decline in consolidated net profit at Rs 360.01 crore in the fourth quarter ended March 31, 2021 (Q4FY21).

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By CNBCTV18.com April 27, 2021, 7:58:41 PM IST (Updated)

Britannia Industries Q4 results: Net profit drops 3% to Rs 360.01 crore, misses estimates
Food company Britannia Industries on Tuesday reported a 3 percent decline in consolidated net profit at Rs 360.01 crore in the fourth quarter ended March 31, 2021 (Q4FY21).


In the corresponding quarter last year, the company had posted a net profit of Rs 373.4 crore. CNBC-TV18 Polls had predicted a profit of Rs 425 crore for the quarter under review.

Consolidated total revenue from operations during the quarter under review stood at Rs 3,130.75 crore as against Rs 2,867.70 crore in the year-ago period, a growth of 9 percent.

The company, however, said it incurred higher expenses in the fourth quarter at Rs 2,701.87 crore as compared to Rs 2,488.88 crore in the corresponding period the previous year.

The cost of materials consumed stood at Rs 1,532.35 crore during the fourth quarter as against Rs 1,307.97 crore in the corresponding period previous fiscal.

Varun Berry, managing director, said, "The year has been difficult and challenging in every possible way. Despite the adverse conditions, we managed to deliver good results in terms of topline growth, profitability improvement, and market share gains."

Berry further said in the fourth quarter the company implemented three transformational digital projects namely S4 HANA, an Online Dealer Management System, and an Integrated Vendor Management System. "The delivery of these projects necessitated the shutdown of operations for a few days in March which impacted primary billing for the quarter," he added.

However, Berry said, "We are confident that with all the core systems getting upgraded and integrated we are well poised to take our business efficiencies to the next level while leveraging the large amounts of data available to build business intelligence and analytics."

For the fiscal ended March 31, the company posted a consolidated net profit of Rs 1,850.59 crore as against Rs 1,393.60 crore in the previous year, a growth of 33 percent. Consolidated total revenue for FY21 was at Rs 13,136.14 crore as against Rs 11,599.55 crore, the company said.

On Tuesday, shares of Britannia Industries ended 0.01 percent higher at Rs 3,540.00 apiece on the BSE.
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