Go First drowned, this company of Wadia Group earned 559 crores in 3 months - Newztezz - Latest News Today, Breaking News, Top News Headlines, Latest Sports News


Saturday, May 6, 2023

Go First drowned, this company of Wadia Group earned 559 crores in 3 months

Wadia Group's airlines company GoFirst has declared itself bankrupt. NCLT has also reserved its order on this. But another company of the group has earned a profit of Rs 559 crore in the January-March quarter.

The Wadia Group, one of the oldest business houses in the country, declared its airlines 'Go First' bankrupt a few days ago. After this the NCLT heard the matter and reserved its order. Meanwhile, the group has made a profit of Rs 559 crore in the January-March quarter from its more than 100-year-old company.

Britannia Industries started functioning in 1892. More than 130 years old, this company is one of the biggest biscuit company in the country. Along with this, it also sells bread and dairy products. It is the flagship company of Wadia Group. This company was started by a group of some British citizens in Kolkata with a cost of just Rs.295.

Earned Rs 2,322 crore in a year

Britannia Industries has made a consolidated profit of Rs 559 crore in the fourth quarter of the financial year 2022-23. This is 47 percent more than the same quarter of the previous financial year 2021-22. During this period, a growth of more than 13 percent has been recorded in the company's revenue. The company has earned a revenue of Rs 4,023.18 crore.

During the financial year 2022-23, the company's profit has been Rs 2,322 crore with a growth of 52.3 percent. While the revenue has been Rs 16,300.55 crore with a growth of 15.3 percent.

Margins up despite rising costs

In January-March, the company's operating profit has increased by 47 percent to Rs 736 crore. Whereas in the financial year 2022-23, it has increased by 30 percent to Rs 2,605 crore. The margin of the company has increased despite the cost of raw material increasing by about 12 percent in the last one year. It has been 20.4 percent in the January-March quarter.

Britannia Industries has started two completely new developed factories in Uttar Pradesh and Tamil Nadu. At the same time, the capacity of Odisha's Biscuit Company has been increased.

No comments:

Post a Comment