Britannia Inds advances after recording decent volume growth in Q4

The scrip had zoomed 9.72% to hit the day's high at 3590.85 in early trade today.

Shares of Britannia Industries were currently trading 4.83% higher, at Rs 3430.60 on the BSE, after the company delivered a mid-single digit volume growth in Q4 FY22.

"Volume growth seems to be holding on despite sharp price increases of about 10%, driven two-thirds by grammage cuts in convenience price-point packs (about 40% of sales) and one-third from MRP increases," a foreign brokerage has reportedly said.

The FMCG major had reported 4.3% rise in consolidated net profit to Rs 379.87 crore on a 15.5% increase in net sales to Rs 3,508.35 crore in Q4 FY22 over Q4 FY21.

Total expenditure during the quarter was Rs 3,000.77 crore, which is higher by 14.3% as compared with the same period last year.

Consolidated operating profit for the fourth quarter was Rs 499 crore. registering with a growth of 10% on a YoY basis.

Varun Berry, managing director, said: In this quarter, we delivered a robust top-line growth of 15% and a mid-single-digit volume growth which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions & channels.

The economy was impacted by global geo-political factors which caused a further surge in inflation this quarter. We continued to take price increases judiciously and remained aggressive on the cost front. We shall further take calibrated price increases and drive cost leadership to manage profitability.

Britannia Industries is one of India's leading food companies. Its product portfolio includes biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk, and yogurt.

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