Britannia Industries surged 8.6% to Rs 754 at 12:33 IST on BSE after 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.
The Q1 result was announced during trading hours today, 12 August 2013.
Meanwhile, the S&P BSE Sensex was up 161.06 points or 0.86% at 18,950.40.
On BSE, 2.39 lakh shares were traded in the counter as against average daily volume of 31,154 shares in the past one quarter.
The stock spurted on high volumes post Q1 earnings. The stock surged as much as 11.59% at the day's high of Rs 774.80 so far during the day, which is also its record high for the counter. The stock hit a low of Rs 696 so far during the day. 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 8 August 2013, rising 3.66% compared with the Sensex's 2.77% fall. The scrip had also outperformed the market in past one quarter, jumping 22% as against Sensex's 6.01% fall.
The mid-cap company has equity capital of Rs 23.97 crore. Face value per share is Rs 2.
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.
Commenting on the company's Q1 performance, Ms. Vinita Bali, MD, Britannia Industries said, "The expansion in margin is consequent to an improvement in product mix and higher price realization coupled with an emphasis on cost management - the growth momentum we saw in the second half of last year, continued."
On standalone basis, Britannia Industries' net profit surged 99% to Rs 86.30 crore on 15% growth in revenue to Rs 1403.40 crore in Q1 June 2013 over Q1 June 2012.
Britannia Industries makes biscuits, bread, rusk, cakes and dairy products like cheese, butter and milk.
Powered by Capital Market - Live News
