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Bangalore May 31 Britannia Industries Ltd has reported a 26.5 per cent dip in net profit for the financial year 2006-07 at Rs 107.6 crore (Rs 146.4 crore). The company has attributed this decrease to "unprecedented inflation in all key commodities". Its net sales for the year grew 28.4 per cent to Rs 2,199.3 crore.

For the last quarter of the year, the company reported net sales of Rs 599.2 crore and net profit of Rs 39.8 crore - up 32 per cent and 43 per cent - respectively over the corresponding quarter of last year.

The board of directors has recommended a dividend of Rs 15 per share of Rs 10 each, same as the previous year.

For the first time this year, Britannia has consolidated its various businesses, the most significant being the dairy business and in accordance with AS 21 has published the consolidated financial statements of Britannia Industries and the companies controlled by it. This being the first year of consolidation, only current year figures have been included, said a company release.

The group's net sales for the year amount to Rs 2,266.3 crore. The net profit for the year is Rs 105.1 crore.

More Stories on : Food & Dairy Products | Dividend Announcement

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