Britannia Q1 cons net profit jumps 93% to Rs 90cr
Britannia's operating margin for April-June came in at 7.7 percent, up from 4.7 percent a year ago, which Vinita Bali, MD, said, was due to improvement in product mix and higher price realisation, apart from cost management.
August 12, 2013 / 20:25 IST
Moneycontrol Bureau
Britannia Industries' first quarter consolidated net profit jumped 93 percent year-on-year to Rs 90 crore, helped by uptick in sales and higher realisations, sending its shares surging to a 52-week high of Rs 773 on NSE.The biscuit and cheese maker's net sales in the April-June quarter rose 14 percent from a year ago to Rs 1,540 crore.Britannia's operating margin for the three-month period expanded to 7.7 percent from 4.7 percent in the year ago quarter. "The expansion in margin is consequent to an improvement in product mix and higher price realisation coupled with an emphasis on cost management," said, Vinita Bali, MD.Britannia's finance costs in the quarter declined to Rs 4 crore from Rs 10 crore. But tax exepnses more than doubled to Rs 39 crore.On a standalone basis, Britannia's net profit nearly doubled to Rs 86 crore, while revenue gained 15 percent to Rs 1,403 crore.Analysts on average had expected the Bangalore-based company to report a standalone net profit of Rs 60 crore, on revenue of Rs 1,413 crore, according to a CNBC-TV18 poll.At 12:40hrs, Britannia shares were up 7.6 percent to Rs 747.05 on NSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
