Britannia hits a sweet spot in June quarter

Better-than-expected results lift stock to all-time high on Monday

Britannia posted June quarter (Q1) results slightly ahead of the Street expectation. Indications that the growth outlook is positive improved the sentiment. Although the company also announced a big capex, analysts say it is too early to attribute a value to it. All these pumped up Britannia stock by about 5 per cent on Monday, helping it scale an all-time high. 

Revenues of India’s largest biscuit and confectionaries manufacturer grew 7.6 per cent to Rs 2,195 crore, led by a volume growth of 3 per cent. Compared to the expectation of flat volumes, it was a good show. Analysts point out