FMCG major Britannia’s net profits for the quarter ended March 31, 2023, grew 47 per cent year-on-year to ₹559 crore, compared to ₹377.95 crore in the same quarter last year. Its net revenues were up 11 per cent to ₹3,892 crore, against ₹3,508 crore in Q4 of FY22.

The net revenues for the full year ended March 31, 2023, saw an incremental growth of 15 per cent y-o-y to ₹15,985 crore, compared to ₹13,944.67 crore a year ago.

While the net profits for the year grew by 52.77 per cent to ₹2,316.32 crore, compared to ₹ 1,515.98 crore. PAT for the year includes an exceptional gain (net of tax) of ₹359 crore, pursuant to a joint venture agreement with Bel SA for the cheese business, and the consequent sale of a 49 per cent equity stake in its subsidiary and a fair valuation of the residual stake of 51 per cent.

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For this quarter, the FMCG major announced earnings per share of ₹23.19, compared to ₹15.77 in Q4 FY22.

“We delivered robust growth of 11 per cent in this quarter on the back of significant distribution gains, which reflects our execution strength across businesses and channels. We continued to accelerate our rural journey with a focus on enhancing reach, partnering with 28,000 rural distributors, and sustaining our diligent market practices. We supported our brands and innovations with the requisite investments in the digital and mass media spaces. We further expanded the portfolio of a few of our adjacent categories, including milkshakes and croissants,” said Varun Berry, Vice-Chairman and Managing Director.

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The company also announced the commercialisation of two biscuit greenfield units this quarter, in Uttar Pradesh and Tamil Nadu, and brownfield expansion in Orissa. “We also commercialised three new lines of rusk this quarter. This is in line with our strategy to expand our exclusive range of products and further enhance productivity. We also scaled up the capacity of our drinks and other dairy lines to better leverage seasonal opportunities and enhance supplies to the bakery division for captive consumption,” the CMD added.

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