Britannia Industries rose 6.64% to Rs 3,073 at 12:03 IST on BSE after consolidated net profit rose 13.15% to Rs 219.13 on 9.73% increase in total income to Rs 2236.05 crore in Q1 June 2016 over Q1 June 2015.
The result was announced during trading hours today, 8 August 2016.Meanwhile, the BSE Sensex was up 59.97 points, or 0.21%, to 28,138.32.
On BSE, so far 93,000 shares were traded in the counter, compared with average daily volume of 21,293 shares in the past one quarter. The stock hit a high of Rs 3,103.80 and a low of Rs 2,885.10 so far during the day. The stock hit a record high of Rs 3,435 on 13 August 2015. The stock hit a 52-week low of Rs 2,506.65 on 12 February 2016. The stock had underperformed the market over the past 30 days till 5 August 2016, rising 2.48% compared with 3.22% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.39% as against Sensex's 11.30% rise.
The large-cap company has an equity capital of Rs 24 crore. Face value per share is Rs 2.
Britannia Industries said in a press release that consolidated profit from operations rose 11% to Rs 288 crore and net profit rose 13% to Rs 219 crore in Q1 June 2016 over Q1 June 2015. Consolidated revenue grew 8% for at Rs 2162 crore in Q1 June 2016 over Q1 June 2015.
Commenting on the performance, Varun Berry, managing director, said that the category growths remained subdued during the quarter, however a good monsoon and impact of 7th pay commission would aid consumption and boost demand going forward. The deteriorating geopolitical situation and currency fluctuations in certain geographies like Middle East and Africa have also impacted the company's growths. The firm launched some delightful products like Good day Nuts cookies, NutriChoice Oat cookies & Biscotti during the quarter which bolstered growth. The company intends to drive consumer off take & strengthen its momentum through re-stage of its brands and plugging its product portfolio gaps going forward. Commodity prices have firmed up significantly over the last two quarters and the firm has initiated a combination of price increase & cost efficiency measures to address this. With a strengthened back end in terms of technologically superior factories and state-of-the-art R&D centre, the company is confident of delivering new products for consumers, he added.
Britannia Industries makes biscuits, bread, rusk, cakes and dairy products like cheese, butter and milk.
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