Britannia Q1 Results:Profit more than doubles to Rs. 543 Crore
Published On: Friday, July 17, 2020 | By: Team KnowMyStock
Britannia Industries on Friday posted a strong set of numbers for the first quarter of the fiscal year 2020-21 (Q1FY21). The Company posted a 118.25 per cent year-on-year (YoY) rise in net profit at Rs 542.68 crore for the quarter ended June 30. It had posted a net profit of Rs 248.64 crore in the corresponding quarter last year. Revenue from operations jumped 26.7 per cent year-on-year to Rs 3,420.67 crore in June quarter 2020. Earnings before interest, tax, depreciation and amortisation jumped 81.4% to Rs 716.6 crore while the operating margin expanded to 21% from 14.6%. Numbers beat analysts' estimates on all parameters. Profit was expected at Rs 395 crore on revenue of Rs 3,255 crore and EBITDA was estimated at Rs 516 crore with margin at 15.9 per cent for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.
“The quarter posed an uphill task for the economy in wake of Covid-19 and caused significant disruptions due to lockdowns imposed to curtail its spread. Factories, depots, transport & vendors across the supply chain were impacted. Our nimble culture helped us quickly adapt to the situation & meet the market demand,” said Varun Berry, Managing Director of Britannia Industries.
Source: Money Control, Business India, Economic Times
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