Sales rise but profits fall for Britannia

BritanniaOne of India's biggest biscuit maker, Britannia Industries Ltd, on Monday posted its financial results. The profit for the company fell down for the June quarter. This happened despite a modest increase in the sales during the same period.

In amount terms, the net profit of the company stood at Rs 328 million which is 30 per cent lesser than what it saw last year during the same quarter. At that time, the figure was at Rs 473.7 million.

The fall happened despite an increase in sales during the period. The increase was of 25 per cent and ended at Rs 9.13 billion.

While the sales are more than what the experts had anticipated, the profit is much below the expected levels. A poll done by Reuters had shown that the net profit would be close to Rs 460.3 million and net sales to be around Rs 8.3 billion.

In a statement, managing director of Britannia said in a statement that the sales have grown across the portfolio of the company. It is also backed by 20 per cent increase in volume.