New Delhi: On Monday Biscuit manufacturer Britannia Industries Ltd posted a 1.4 per cent decline in its consolidated net profit to Rs 216.12 crore in the April-June quarter, as contrast to Rs 219.21 crore in the year before period. Income from operations in the first quarter was at Rs 2,301 crore, grew by 6 per cent from Rs 2,162.16 crore in the subsequent quarter in 2016.
Corporation’s Managing Director Varun Berry conveyed that, it has been a good quarter in the face of demanding market environment and de-stocking in trade due to the GST (Goods and Services Tax). GST created a short term impact, it is predictable to make a positive momentum going forward.
The corporation further stated that, expansion in the international business continued to be under pressure due to deteriorating geo-political circumstances and currency fluctuations in geographies like the Middle East and Africa.
It included that the development in dairy business has likewise been stifled fundamentally because of its attention on driving items with high gainfulness and decreasing its play in the less beneficial commoditised items. “On the ware front, costs of key crude material keep on remaining high with swelling in Q1 (April-June) remaining at around 6 per cent,” he conveyed.