Britannia to opt for promotional offers instead of price cuts: Varun Berry

In FY22 and FY23, the company increased prices in order to pass on rising raw material costs to the consumer

Britannia Industries will not reduce the maximum retail price of its products but will opt for promotions instead, even as commodity costs are declining, Varun Berry, executive vice chairman and managing director of the biscuit major, told investors on a post-earnings conference call.

He however, did not specify the extent to which the company will cut prices, but said it won’t be substantial.

“We are not really taking a price cut, what we are looking at is projecting them as a promotion so that it doesn’t look like we are permanently down to a certain price. It will be as