Britannia investors see 'Good Day' after strong Q2, stock surges 9%

FMCG major has been gaining market share for 38 consecutive quarters now, stands at 15-yr high

Excellent September quarter results for the 2022-23 financial year (Q2FY23) for Britannia Industries, has led to a big up move in the fast-moving consumer goods (FMCG) stock, which hit a 52-week high of Rs 4,189.95 on the BSE before closing almost 9 per cent higher, at Rs 4,142.20, on Monday.

The consolidated sales rose by 21 per cent year-on-year (YoY) to Rs 4,380 crore (up 19 per cent quarter-on-quarter or QoQ), while earnings before interest, tax, depreciation and amortisation (ebitda) rose by 27.5 per cent YoY to Rs 710 crore. The profit after tax or PAT (adjusted for extraordinary items)