Britannia Industries has rallied 9% to Rs 758 after reporting a robust 93% year-on-year (yoy) jump in consolidated net profit at Rs 89.49 crore for the quarter ended June 30, 2013 (Q1). The packaged foods company had profit of Rs 46.48 crore in a year ago quarter.
The company’s operational income for the quarter grew 14.6% at Rs 1,552 crore on yoy basis, Britannia Industries said in a statement.
Analyst on an average had expected net profit of Rs 56 crore and net sales of Rs 1,388 crore for the quarter.
Meanwhile, the operating profit margins improved significantly by 300 bps at 7.7%, compared with 4.7% in the corresponding quarter last fiscal, it added.
Commenting on the performance, Ms. Vinita Bali, Managing Director, said, “The expansion in margin is consequent to an improvement in product mix and higher price realization coupled with an emphasis on cost management – the growth momentum we saw 2nd half of last year, continued.”
The stock opened at Rs 700 and hit a record high of Rs 775 on BSE. A combined 1.25 million shares already changed hands on the counter till 1247 hours against an average around 100,000 shares that were traded daily in past two weeks on BSE and NSE.
The company’s operational income for the quarter grew 14.6% at Rs 1,552 crore on yoy basis, Britannia Industries said in a statement.
Analyst on an average had expected net profit of Rs 56 crore and net sales of Rs 1,388 crore for the quarter.
Meanwhile, the operating profit margins improved significantly by 300 bps at 7.7%, compared with 4.7% in the corresponding quarter last fiscal, it added.
Commenting on the performance, Ms. Vinita Bali, Managing Director, said, “The expansion in margin is consequent to an improvement in product mix and higher price realization coupled with an emphasis on cost management – the growth momentum we saw 2nd half of last year, continued.”
The stock opened at Rs 700 and hit a record high of Rs 775 on BSE. A combined 1.25 million shares already changed hands on the counter till 1247 hours against an average around 100,000 shares that were traded daily in past two weeks on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%