Bakery food company Britannia diligence on Thursday said its consolidated net profit fell13.24 percent to Rs335.74 crore in the April- June quarter of FY23 due to the impact of inflationary headwinds.
The company had posted a net profit of Rs387.01 crore in the April- June quarter a time ago, Britannia diligence said in a BSE form.
still, its total profit from operations increased8.74 percent to Rs crore during the quarter under review as against Rs crore in the time- ago period.
Britannia diligence’ aggregate charges were at Rs crore in the first quarter of FY23, up12.28 percent from Rs crore in the time- ago period.
Britannia diligence Managing Director Varun Berry said on the cost and profitability front, global factors continued to impact the frugality, which led to a further swell in affectation during the quarter.
“Throughout the quarter, there was a strong successional effect on some bakery-related products, such as wheat and artificial energy, ranging from 15 to 20 percent. While we actioned necessary price increases to cover this, the full impact of price correction should reflect in the preceding quarter,” he said.
still, Berry also added the company has been delivering harmonious top line growths in this grueling profitable terrain, reflecting its prosecution strength and go- to- request strategy. It’s also apparent in its harmonious request share gain over the last 36 diggings, he added.
Between 15 and 20 percent of certain bakery-related items, like wheat and artificial energy, experienced severe successional effects during the quarter. Our pastoral footmark witnessed farther additions and we now reach,000 pastoral preferred dealers, which also reflects in pastoral request share gain being better than civic,” he said.
Berry also said that a drop in prices of some of the goods like win oil painting and crude along with its cost-effectiveness program should help sustain and ameliorate profitability in the coming diggings.
Shares of Britannia diligence Ltd on Thursday settled at Rs on BSE,0.23 percent more advanced than the former close.
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