BENGALURU: Britannia Industries plans to improve prices by about 4.5% by the tip of the fiscal 12 months, the corporate stated throughout its post-earnings investor name on Friday. The firm raised prices by 2% within the third quarter, which added Rs 100 crore to the revenues within the quarter.
The firm reported consolidated income from operations of Rs 4,463 crore for the third quarter, a 6.5% year-on-year development. Profit after tax rose 4.5% to Rs 582 crore.
“Everyone’s been late to the party of price increases. Everyone is becoming alive to the fact that this inflation is not going away,” stated vice chairman Varun Berry. He famous that preliminary expectations of a short-term affect from govt-imposed palm oil duties and normalising cocoa prices haven’t materialised.
The worth changes come amid a sustained inflationary surroundings, with meals inflation remaining excessive. “If you look at the Consumer Food Price Index (CFPI), it was almost in double digits in this quarter,” Berry stated. He cited worth will increase throughout key commodities, together with cereals at 6.5%, oils and fat at practically 15%, and greens and fruits at excessive single-digit or double-digit ranges.
