BRITANNIA Q1 POINTS TO UPBEAT FMCG SENTIMENT

FMCG major Britannia Industries on Friday reported consolidated revenue growth of 26% for the April to June quarter at Rs 3,384 crore as compared to Rs 2,677 crore in Q1 FY20.

The consolidated net profit increased by 117% to Rs 546 crore in Q1 FY21 as compared to Rs 251 crore in the corresponding period of previous fiscal.

Managing Director Varun Berry said the quarter posed an uphill task for the economy in the wake of COVID-19 and caused significant disruptions due to lockdowns imposed to curtail its spread. Factories, depots, transport and vendors across the supply chain were impacted.

"Our nimble culture helped us quickly adapt to the situation and meet market demand. As soon as the lockdown was eased, we focussed on getting our distribution back to the pre-COVID levels, and increasing our rural and hinterland reach," he said in a statement.

Berry said the company is diligently studying the impact of COVID-19 on short-term and longterm changes in consumer preferences, distribution models and is confident of overcoming challenges with agility.

"On the cost front, we witnessed moderate inflation in the prices of key raw materials and expect the prices to be stable going forward given the positive outlook on monsoon and harvest."

Varun Berry: The quarter posed an uphill task for the economy in wake of COVID-19 and caused significant disruptions due to lockdowns imposed to curtail its spread. Factories, depots across supply chain were impacted.