Britannia Industries extends post result gains

Britannia Industries rose 2.43% to Rs 749.80 at 10:19 IST on BSE, with the stock extending Monday's 5.42% gains triggered by the company reporting strong Q1 earnings.

Meanwhile, the S&P BSE Sensex was up 77.82 points or 0.41% at 19,024.80.

On BSE, 46,000 shares were traded in the counter as against average daily volume of 37,263 shares in the past one quarter.

The stock surged as much as 4.28% at the day's high of Rs 763.40 so far during the day. The stock hit a low of Rs 739.95 so far during the day. The stock had hit a record high of Rs 774.80 on Monday, 12 August 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 12 August 2013, surging 7.69% compared with the Sensex's 5.07% fall. The scrip had also outperformed the market in past one quarter, jumping 27.86% as against Sensex's 5.84% fall.

The mid-cap company has equity capital of Rs 23.97 crore. Face value per share is Rs 2.

Shares of Britannia Industries have rallied 8% in two trading sessions from a recent low of Rs 694.30 on 8 August 2013, after the company during trading hours on Monday, 12 August 2013, reported strong Q1 earnings. The stock had surged 5.42% to settle at Rs 732 on Monday, 12 August 2013.

Britannia Industries' consolidated net profit jumped 93% to Rs 89.50 crore on 14% growth in revenue to Rs 1539.60 crore in Q1 June 2013 over Q1 June 2012.

Britannia said its operating margin at 7.7% in Q1 June 2013, increased significantly from 4.7% in Q1 June 2012, despite an increase in brand investment at 9.6% of revenue in Q1 June 2013 from 8.4% of revenue in Q1 June 2012.

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

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