Britannia Industries Ltd reported a 164 per cent increase in standalone net profits for the September quarter at Rs 253.04 crore, boosted by one time earnings from sale of land and buildings.
Excluding the one time earnings, the biscuit major's net profits for the quarter grew 35 per cent over corresponding last quarter's Rs 95.68 crore.
Sales income for the quarter grew 13 per cent to Rs 1801.23 crore over corresponding last quarter's 1594.45 crore.
On a consolidated basis, the net profits for the quarter grew almost three fold to Rs 270 crore against corresponding last quarter's Rs 98 crore. Consolidated income for the quarter stood at Rs 1974.51 crore against corresponding last quarter's Rs 1755.75 crore.
"We continue to drive consumer off-take and focus on cost efficiencies. This has resulted in the second quarter consolidated revenue growth of 12 per cent and 43 per cent increase in profit from operations on an equalised basis. Our innovation journey has now begun with the launch of NutriChoice Heavens and we will continue to launch new products in the coming months," said Varun Berry, Managing Director, Britannia Industries Ltd in a statement.
Profits from operations for the quarter was up 31.1 per cent at Rs 180 crore against corresponding last quarter's Rs 138 crore. The tax expense grew more than double to Rs 96.40 crore against Rs 45.11 crore in the corresponding previous quarter.
Britannia shares ended 1.71 per cent up at Rs 1625.15 crore on the BSE ahead of the earnings announcement on Friday.