Britannia Industries Plans Price Increase

In a recent post-earnings investor call, Britannia Industries revealed plans to increase prices by about 4.5% by the end of the fiscal year. This decision follows a previous 2% price hike in the third quarter, which contributed an additional Rs 100 crore to the company's revenues.

Financial Performance Overview

The company reported a consolidated revenue from operations of Rs 4,463 crore for the third quarter, marking a 6.5% year-on-year growth. Profit after tax also saw a rise, increasing by 4.5% to Rs 582 crore.

Addressing Inflationary Pressures

Varun Berry, vice chairman of Britannia Industries, commented on the inflationary environment, stating, "Everyone's been late to the party of price increases. Everyone is becoming alive to the fact that this inflation is not going away." He highlighted the unexpected persistence of high prices for key commodities, including cereals, oils and fats, and vegetables and fruits, which have not normalized as initially anticipated.