Britannia Q4 net up 65.5 per cent at Rs 88 crore

Confectionery major Britannia Industries posted on Friday a 65.66 per cent rise in its net profit at Rs 87.85 crore for the fourth quarter ended March 31.

The company had reported net profit of Rs 53.03 crore during the January-March quarter of fiscal year 2011-12.

Net sales rose to Rs 1,486.63 crore during Q4, 2012-13, as against Rs 1,309.57 crore in the same period of 2011-12 fiscal, Britannia Industries said in a statement.

"Our results are a reflection of our focus on driving consumer off-take and operational efficiencies to generate sustainable and profitable growth," Britannia Industries managing director Vinita Bali said.

The company posted a net profit of Rs 233.87 crore for the year ended March 31, 2013, compared to Rs 186.74 crore in financial year 2011-12.

Net sales of the company rose to Rs 5,564.38 crore for 2012-13, as against Rs 4,947.04 crore in the previous fiscal year.

The company's board, which met on Friday, recommended a dividend of 425 per cent--Rs 8.5 per share.

Britannia Industries stock closed at Rs 574.45 on the BSE, down 0.21 per cent from its previous close.