Exports of agricultural and food products rose by 13 pc in nine months of financial year: Govt
For the year 2022-23, an export target of $23.6 billion has been fixed by APEDA for the agricultural and processed food products basket.
Food products major Britannia Ltd on Tuesday reported a 40 per cent decline in its consolidated net profit at Rs 556 crore for the October-December quarter of the current financial year, against a net profit of Rs 937 crore in the same period of the previous year.
Revenue from operations during the third quarter of the current fiscal rose by a marginal 1 per cent to Rs 4,256 crore.
Britannia reported an EBITDA (earnings before interest, tax, depreciation amortisation) of Rs 821 crore for the quarter, while the margin was 19.29 per cent.
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For the first nine months of the current financial year, the company’s consolidated revenue works out to Rs 12,532 crore, which is 3.6 per cent higher than the previous year while the operating profit increased 16 per cent year-on-year to Rs 2,162 crore.
“In a progressively recovering demand environment with heightened competition, our performance this quarter reflects our resilience and competitiveness. Over the last 24 months, we achieved a robust 19 per cent growth in revenue, coupled with a commendable 52 per cent increase in operating profit,” said Britannia Managing Director Varun Berry.
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