Britannia's net profit rise by just 6% to Rs 234 crore in Q2FY17

FMCG major Britannia Industries on Monday announced its financial results for the quarter ended on September 30. The company registered a Consolidated net profit of Rs 234 crore during the quarter, a rise of just 6%, as compared to Rs 221.1 crore during the same period last year.

Commenting on the performance, Varun Berry, Managing Director, Britannia Industries, said, " We have witnessed positive momentum in the market growth over the last few months and I believe the impact of good monsoon and flow through of 7th Pay Commission benefits would continue to support this trend. Our double-digit growth for the quarter is backed by a double digit volume growth in our base business. The deteriorating geopolitical situation and currency fluctuations in certain geographies like Middle East and Africa continue to impact our growths".

The company's total income increased from Rs 2236.7 crore in Q2FY16 to Rs 2497.2 crore in Q2FY17. In Q2FY17 the company's other income grew to Rs 41.1 crore from Rs 33 crore during the same period last year. 

The shares of Britannia Industries closed at Rs 3303.20 per piece, up 0.10%, or Rs 3.15 on BSE.