Britannia Industries Q3 Results: Profit Up 4.6%, Beats Estimates

Britannia Industries Ltd.'s consolidated net profit grew 4.6% in the third quarter of the current financial year, beating analysts' estimates.

The biscuit maker posted a profit of Rs 582 crore in the quarter ended Dec. 31, 2024, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had a consensus estimate of Rs 517 crore.

• Revenue up 7.9% at Rs 4,593 crore versus Rs 4,256 crore (Bloomberg estimate: 4,507 crore).

• Ebitda up 2.9% at Rs 845 crore versus Rs 821 crore (Estimate: Rs 769 crore).

• Ebitda margin at 18.4% versus 19.3% (Estimate: 17.1%).

• Net profit up 4.6% at Rs 582 crore versus Rs 556 crore (Estimate: Rs 517 crore).

Before the results were declared, shares of Britannia Industries closed 0.56% higher at Rs 4,958.95 apiece on the BSE, compared to 0.27% decline in the benchmark Sensex.

Britannia Industries posted consolidated sales of Rs. 4,463 crore for the quarter ending Dec. 31, 2024, reflecting a 6.5% year-on-year growth. The company achieved approximately 6% growth in both value and volume, despite subdued demand and increased competition in the FMCG sector.

Rising input costs for wheat, palm oil, and cocoa continue to put pressure on margins, prompting Britannia to consider selective price hikes going forward. The company plans to closely monitor commodity price inflation while maintaining its competitiveness. It expanded its distribution network to 29 lakh outlets, with focus states growing 2.6x, aided by 31,000 rural distributors. Product innovations like Dual Flavoured Layer Cakes and Triple Chocolate Croissants, along with strong performance in dairy drinks, croissants, and wafers, contributed to growth.

Looking ahead, Britannia remains focused on market share expansion while balancing profitability. It reiterated its commitment to ESG principles and aims to build a sustainable and profitable business.