Britannia Industries has soared 14% to Rs 652 after reporting a robust 66% year-on-year growth in net profit at Rs 88 crore for the fourth quarter ended March 31.2013 due to lower raw material cost and other expenditure. The company had reported net profit of Rs 53 crore during the same quarter previous fiscal.
Net sales rose to Rs 1,487 crore during Q4, 2012-13, as against Rs 1,310 crore in the same period of 2011-12 fiscal, Britannia Industries said in a statement.
Commenting on the performance, Managing Director Vinita Bali said, “Our results are a reflection of our focus on driving consumer off-take and operational efficiencies to generate sustainable and profitable growth. We have also seen a 100 basis points increase in operating margin.”
Meanwhile, the board has recommended a dividend of 425% or Rs 8.5 per share for the financial year 2012-13.
The stock opened at Rs 617 and hit a record high of Rs 665 on BSE. A combined around 425,931 shares have changed hands on the counter till 0942 hours on BSE and NSE.
Net sales rose to Rs 1,487 crore during Q4, 2012-13, as against Rs 1,310 crore in the same period of 2011-12 fiscal, Britannia Industries said in a statement.
Commenting on the performance, Managing Director Vinita Bali said, “Our results are a reflection of our focus on driving consumer off-take and operational efficiencies to generate sustainable and profitable growth. We have also seen a 100 basis points increase in operating margin.”
Meanwhile, the board has recommended a dividend of 425% or Rs 8.5 per share for the financial year 2012-13.
The stock opened at Rs 617 and hit a record high of Rs 665 on BSE. A combined around 425,931 shares have changed hands on the counter till 0942 hours on BSE and NSE.
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