Britannia Industries has rallied 9% to Rs 758 after reporting a robust 93% year-on-year (yoy) jump in consolidated net profit at Rs 89.49 crore for the quarter ended June 30, 2013 (Q1). The packaged foods company had profit of Rs 46.48 crore in a year ago quarter.
The company’s operational income for the quarter grew 14.6% at Rs 1,552 crore on yoy basis, Britannia Industries said in a statement.
Analyst on an average had expected net profit of Rs 56 crore and net sales of Rs 1,388 crore for the quarter.
Meanwhile, the operating profit margins improved significantly by 300 bps at 7.7%, compared with 4.7% in the corresponding quarter last fiscal, it added.
Commenting on the performance, Ms. Vinita Bali, Managing Director, 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 2nd half of last year, continued.”
The stock opened at Rs 700 and hit a record high of Rs 775 on BSE. A combined 1.25 million shares already changed hands on the counter till 1247 hours against an average around 100,000 shares that were traded daily in past two weeks on BSE and NSE.
The company’s operational income for the quarter grew 14.6% at Rs 1,552 crore on yoy basis, Britannia Industries said in a statement.
Analyst on an average had expected net profit of Rs 56 crore and net sales of Rs 1,388 crore for the quarter.
Meanwhile, the operating profit margins improved significantly by 300 bps at 7.7%, compared with 4.7% in the corresponding quarter last fiscal, it added.
Commenting on the performance, Ms. Vinita Bali, Managing Director, 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 2nd half of last year, continued.”
The stock opened at Rs 700 and hit a record high of Rs 775 on BSE. A combined 1.25 million shares already changed hands on the counter till 1247 hours against an average around 100,000 shares that were traded daily in past two weeks on BSE and NSE.
