Britannia Industries surges 10% on upbeat volume in March quarter

The company delivered robust top-line growth of 15 per cent and a mid-single digit volume growth in March quarter (Q4FY22).

Shares of Britannia Industries surged 10 per cent to Rs 3,590.85 on the BSE in Wednesday’s intra-day trade, after the packaged foods company reported better-than-expected volume growth in the base business. The company posted volume growth at around 4 per cent in March quarter (Q4FY22), beating analyst estimates of 1 per cent. Meanwhile, the board has recommended a dividend of 5650 per cent i.e. Rs 56.5 per share.

However, at 09:37 AM; the stock erased its partial intra-day gain and was up 4 per cent at Rs 3,412. In comparison, the S&P BSE Sensex was down 0.05 per cent