Britannia Industries hits record high after strong Q4 earnings

Britannia Industries jumped 7.43% to Rs 2,455.15 at 9:52 IST on BSE after consolidated net profit rose 55.4% to Rs 167 crore on 14.3% growth in revenue to Rs 2032 crore in Q4 March 2015 over Q4 March 2014.

The company announced Q4 results after market hours yesterday, 21 May 2015.

Meanwhile, the S&P BSE Sensex was up 89.75 points or 0.32% at 27,899.10.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 13,000 shares in the past two weeks.

The stock hit a high of Rs 2,556.45 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,381.75 so far during the day.

Mr. Varun Berry, Managing Director of Britannia Industries said that the company continued the growth momentum with revenue growth of 14% and 200 bps expansion in operating margin (on an equalised basis for the year), despite no pickup in the market growth. This was achieved through strengthening of the company's fundamental building blocks with increased depth in distribution; right management of fixed costs and through increased cost efficiencies. In the second half of the year the company embarked on its innovation journey with organoleptically dilightful products being launched in the market with the objective of tapping new sources of growth and profitable revenue, while building brand differentiation and relevance, Mr. Varun said.

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

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