Brands
Britannia posts Rs 520 crore profit in Q1 on higher revenue and margins
MUMBAI: Biscuit boss Britannia sinks its teeth into a strong Q1, notching up a crisp Rs 520 crore in net profit, driven by higher volumes, improved margins, and a well-baked portfolio mix. Britannia Industries Limited reported a sweet start to FY26, with consolidated net profit rising to Rs 520.13 crore in the quarter ended 30 June 2025. That’s up from Rs 504.88 crore in the same quarter last year. Total consolidated revenue from operations for Q1 stood at Rs 4,622.22 crore, a healthy increase from Rs 4,250.29 crore a year ago.
The biscuit major’s consolidated total income rose to Rs 4,679.23 crore, aided by other income of Rs 57.01 crore. Britannia’s operational costs climbed too, but were kept under check with total expenses at Rs 3,973.36 crore, up from Rs 3,599.51 crore in Q1 FY25.
Among the key expense heads, raw material costs stood at Rs 2,550.87 crore, while employee benefits rose to Rs 241.86 crore (up from Rs 201.95 crore YoY), and other expenses totalled Rs 864.21 crore.
Profit before tax for the quarter came in at Rs 701.02 crore, with tax expenses pegged at Rs 180.89 crore, leading to the final net profit figure of Rs 520.13 crore. The company’s earnings per share (basic and diluted) stood at Rs 21.62, compared to Rs 20.99 in the same quarter last year.
On the standalone front, Britannia clocked revenue from operations of Rs 4,452.74 crore, up from Rs 4,094.44 crore in Q1 FY25. Standalone profit before tax came in at Rs 674.20 crore, while net profit stood at Rs 498.27 crore compared to Rs 502.08 crore last year. Standalone EPS (basic and diluted) stood at Rs 20.69.
The biscuit bellwether also reported total comprehensive income of Rs 521.10 crore (consolidated) and Rs 498.27 crore (standalone) for the quarter. The company’s paid-up equity share capital remained unchanged at Rs 24.09 crore.
Britannia, which has been navigating a volatile input cost environment, has leaned on price optimisation and product mix to drive growth. With Q1 numbers setting the tone, it appears the brand is baking more than just biscuits, it’s cooking up consistent profitability.
Summary of Key Financials (Consolidated Q1 FY26):
● Revenue from operations: Rs 4,622.22 crore
● Total income: Rs 4,679.23 crore
● Profit before tax: Rs 701.02 crore
● Net profit: Rs 520.13 crore
● EPS (Basic & Diluted): Rs 21.62
● Total comprehensive income: Rs 521.10 crore
The earnings confirm that Britannia is staying crunchy even in a competitive and inflation-prone FMCG market.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
