Britannia’s net profit falls by 28 pct

Britannia said its consolidated net profit declined by 28.02 pct to Rs 103.10 crore.

FMCG major Britannia Industries Ltd on Thursday said its consolidated net profit declined by 28.02 per cent to Rs 103.10 crore in the year ended March 31,2010.

The company had a consolidated net profit Rs 143.24 crore in the last fiscal,Britannia Industries said in a filing to the Bombay Stock Exchange.

Consolidated net income increased to Rs 3,770.84 crore in the year under review from Rs 3,421.23 crore in the same period last year.

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For the year ended March 31,2010,the company’s standalone net profit dropped to Rs 116.50 crore from Rs 180.40 crore in the corresponding period last fiscal.

Standalone net income rose to Rs 3,401.40 crore in the year under review from Rs 3,112.21 crore a year ago.

The board of directors has approved sub-division of Rs 10 equity share into 5 shares of Rs 2 each,it said.

The record date would be announced after the proposal is approved by the shareholders at the forthcoming annual general meeting,it said.

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The board of directors has recommended a dividend of Rs 25 per share for the year ended March 31,2010.

Shares of the company closed at Rs 1,690,up 1.33 per cent from the previous close on the BSE.