Britannia Industries reported a steady set of June quarter earnings, with net profit rising 13.4% year-on-year, driven by healthy revenue growth and modest margin expansion. However, profit and operating performance came in slightly below Street expectations.
The FMCG major posted a consolidated net profit of Rs 591 crore for the first quarter, compared with Rs 521 crore in the year-ago period. The figure was marginally lower than the Bloomberg consensus estimate of Rs 606 crore.
Revenue from operations rose 8.2% year-on-year to Rs 5,000 crore from Rs 4,622 crore a year ago, broadly in line with analysts' estimate of Rs 4,999 crore.
Britannia Q1 Result Highlights (YoY)
- Net Profit rises 13.4% at Rs 591 crore versus Rs 521 crore (Est: Rs 606 crore).
- Revenue up 8.2% at Rs 5,000 crore versus Rs 4,622 crore (Est: Rs 4,999 crore).
- EBITDA rises 11% at Rs 840.4 crore versus Rs 757.2 crore (Est: Rs 871 crore).
- EBITDA Margin up 40 Bps at 16.8% versus 16.4% (Est: 17.4%).
Operating performance also improved during the quarter, with EBITDA increasing 11% to Rs 840.4 crore from Rs 757.2 crore in the corresponding period last year. However, it missed the Street expectation of Rs 871 crore.
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EBITDA margin expanded 40 basis points to 16.8% from 16.4% a year earlier, reflecting improved operating efficiency despite a challenging input cost environment. The margin, however, came below analysts' expectation of 17.4%.
Britannia Industries Share Price Today
The results were announced after market close. Britannia Industries shares closed 0.66% lower at Rs 5,404 per share on Thursday. The shares have fallen 2.18% in one week and 0.93% in one month. The shares are down 10.08% year-to-date and rose 0.03% in the last one year.
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