NEW DELHI: FMCG major Britannia Industries has reported a 22.4 per cent rise in net profit at Rs 452 crore for the quarter ended 31 December 2020 (Q3 FY21). It was Rs 369.6 crore during the corresponding period a year ago. However, sequentially, the profit declined 8.6 per cent. The company had posted a profit of Rs 495.20 crore in the September quarter.

Revenue from operations rose 6.1 per cent year-on-year to Rs 3,165 crore compared to the revenue of Rs 2,982 crore during the same period a year earlier. The revenue was Rs 3,419.61 crore in the previous quarter.

"The company has been consistently gaining market share over the last several quarters," Britannia said in a BSE filing.

The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 611 crore.

Total income of the Good Day biscuits manufacturer came in at Rs 3,248.17 crore during the quarter under review as against Rs 3,047.86 crore in the same period a year earlier. Meanwhile the total expenses stood at Rs 2,634.46 crore in Q3 FY21.

Britannia managing director Varun Berry said, "We continue to focus our efforts on the basic building blocks of our business which include direct reach, rural distribution, range selling, higher throughput, salesmen productivity and invest in enhancing our brand equity through focused product campaigns."

The company's expense-to-revenue ratio fell to 83.2 per cent in the quarter ended December, down from 85.5 per cent a year earlier.

"On the cost front, we witnessed moderate inflation in the materials prices except Palm oil where we witnessed a significant increase. We neutralised the inflation by accelerating our cost efficiencies and sustained the new efficiencies that we witnessed during the Covid2019 induced lockdown. These measures helped us record a 260 bps increase in operating profit during the current quarter compared to last year," Berry added.