Britannia Industries on Monday met Street estimates when it posted a 23 per cent rise in consolidated net profits at Rs 495.20 crore for the September quarter.

The company had posted a net profit of Rs 402.73 crore in the same period last year.

Total revenue rose 12.15 per cent to Rs 3,419.11 crore during the quarter against Rs 3,048.44 crore a year ago as the country-wide lockdown was lifted in many places.

Britannia Industries managing director Varun Berry said the company got its full range of products to the market, focussed on efficiency in distribution, followed continuous replenishment system of distribution and inched closer to normality in advertisement and promotions.

Further, all the adjacent businesses delivered a healthy growth.

“On the cost front, we witnessed moderate inflation in the prices of key raw materials and expect the prices to be stable given the positive outlook on monsoon and harvest,” he said. However, it sustained a large part of the gains in the previous quarter through supply chain efficiencies and reduction in wastage.

“These measures helped us sequentially sustain the shape of our business and record a massive 390 basis points increase in operating profit during the quarter versus last year,’’ he said.