Despite the sequential dip in PAT, the company believes the environment is improving. Berry said the worst of the impact from inflation and pricing adjustments is now over, and the business is entering a more stable period.
Ranjeet Kohli, prior to joining Britannia, was the president and chief business officer at Jubilant Foodworks since April 2021.
And that poses a particular challenge in brand communications for Britannia.
The company has also implemented a new real-time dealer management which would ensure quick conversion of orders. The management would also aims to ensure product availability at any given time.
The supply chain includes suppliers of raw materials and packaging materials, food manufacturing factories, factory workers, transporters of materials and finished goods, depots, wholesalers, distributors and their sales persons.
He pointed out that Britannia was the first company to signal a slowdown after Diwali last year.
Varun Berry of Britannia was awarded the best CEO for private sector at the Forbes India Leadership Awards 2017. CNBC-TV18's Priya Sheth caught up with Varun Berry post the big win where he spoke about their focus on the rural growth.
FMCG biggies such as Amul, Dabur, Britannia and Parle plan to increase prices of their products or slash the quantities of packaged goods this summer. As a result biscuits, ice-creams and soap, among other daily consumption products will get expensive.
Britannia will no longer stick to bakery and dairy products, says Managing Director Varun Berry. The company is also keenly looking at the micro-snacking space for expansion.
Bakery and dairy product maker Britannia Industries today reported 4.59 percent increase in consolidated net profit at Rs 220.49 crore for the third quarter ended December 31, 2016.
The company is looking to expand its business in the countries having similar business environment like that of India and is also open to inorganic growth if it gets a right opportunity.
"We are looking at diversification. First diversification is going to be within the bakery area where in certain segments, we are missing. You would see in the next couple of months very hectic activity from our side," Britannia Industries Managing Director Varun Berry told PTI.
Bakery and dairy products maker Britannia Industries on Monday reported a 5.79 percent increase in consolidated net profit at Rs 233.95 crore for the second quarter ended September 30, 2016. The company had posted a net profit of Rs 221.13 crore in July-September period a year-ago, Britannia Industries said in a BSE filing.
The company has had tailwinds in its premium product segment growth in the quarter gone by, says Varun Berry, MD of Britannia Industries.
The company's MD Varun Berry says the management is working on a Rs 900-crore investment plan which should be finalised within a month's time and 70 percent of the total investment will go into greenfield projects
Varun Berry, MD, Britannia, says the government should increase rural spending and work for better yields in agricultural output
Varun Berry, MD, Britannia Industries said for the current fiscal total investment would be north of Rs 400 crore and there would be substantial amount of investments going into manufacturing facilities.
Revenue, too, jumped 13 percent to Rs 2003 crore in the quarter ended 30 June, 2015 against against Rs 1787 crore in year-ago period.
The bakery and dairy products maker had registered a consolidated net profit of Rs 97.64 crore for the corresponding period of the previous fiscal year, it said in a filing to the BSE.
Britannia Industries has reported two-fold increase in its Q2 net profit. “We have had a net profit growth of 177 percent at Rs 270.46 crore, out of which Rs 124 crore has come from sale of our land in Chennai. If you were to remove that, there was 50 percent growth in our net profit,†said MD Varun Berry.
As part of the changes announced today, the company's India operations will be led by Varun Berry (Chief Operating Officer) who recently joined the firm, Britannia Industries said in a statement.
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