Britannia Industries drops on profit booking

Britannia Industries lost 0.61% to Rs 661.80 at 9:48 IST on BSE, with the stock sliding on profit booking after Monday's 15.91% rally triggered by the company reporting strong Q4 earnings.

Meanwhile, the S&P BSE Sensex was up 45.22 points or 0.23% at 20,075.99.

On BSE, 25,000 shares were traded in the counter as against average daily volume of 25,132 shares in the past one quarter.

The stock hit a high of Rs 666.05 and a low of Rs 651.80 so far during the day. The stock had hit a record high of Rs 680 on Monday, 27 May 2013. The stock had hit a 52-week low of Rs 400 on 7 November 2012.

The stock had outperformed the market over the past one month till 27 May 2013, surging 17.7% compared with the Sensex's 3.86% rise. The scrip had also outperformed the market in past one quarter, jumping 35.53% as against Sensex's 4.59% gain.

The mid-cap FMCG company has equity capital of Rs 23.92 crore. Face value per share is Rs 2.

Shares of Britannia Industries had rallied 15.91% to settle at Rs 665.85 on Monday, 27 May 2013, after the company after market hours on Friday, 24 May 2013, reported strong Q4 earnings.

Britannia Industries' net profit jumped 65.7% to Rs 87.85 crore on 13.5% growth in net sales to Rs 1486.63 crore in Q4 March 2013 over Q4 March 2012. Net profit rose 25.2% to Rs 233.87 crore on 12.5% growth in net sales to Rs 5564.38 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

On consolidated basis, Britannia Industries' net profit rose 30% to Rs 259.50 crore on 12.4% growth in net sales to Rs 6135.91 crore in FY 2013 over FY 2012.

Britannia Industries makes biscuits, bread, rusk, cakes and dairy products like cheese, butter and milk.

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