Britannia Q3 net profit rose 17% at Rs 682 crore

Britannia Industries

Maker of Marie Gold and Good Day, Britannia Industries posted a 17 per cent rise in the third quarter  consolidated 582.3net profit at Rs 682 crore, helped by stable commodity prices and a strong momentum across both the biscuits and adjacent categories, the company said in a regulatory filing on February 10. The company had posted net profit of Rs 582.3 crore in the same quarter last year.

The biscuit maker's consolidated revenue from operations rose to Rs 4,969.8 crore, up from Rs 4,592.6 crore last year.

"While the biscuit industry remains under stabilization for price points post the GST rate reduction, the business grew by ~ 12% in November & December," said the company's newly appointed chief executive officer Rakshit Hargave.

He added that the company is "focused on building a stronger ‘Britannia’ through elevated brand experiences and sustained investments, alongside distinctive and localized product innovations designed to address the diverse demographic and cultural preferences across the country. "

Britannia also announced appointment of Puneet Das, who will serve as  the Chief Marketing Officer, effective February 16. Das held senior commercial and marketing leadership roles at leading organizations such as Marico Limited, PepsiCo India, GSK Consumer Healthcare India and Tata Consumer Products Limited and has worked on iconic brands including 7Up, Boost, Horlicks, Tata Tea and Tetley, the company said.

Most recently, Das served as  President - Packaged Beverages, India & South Asia, at Tata Consumer Products.