Britannia Industries on February 7 reported a 23.26 percent year-on-year (YoY) rise in its consolidated net profit at Rs 369.9 crore for the December quarter of the financial year 2020.
A CNBC-TV18 poll had projected Q3 FY20 profit at Rs 360 crore.
Total revenue from operations came in at Rs 2,982.7 crore, up 4.95 percent YoY, against Rs 2,842 crore.
Here are the highlights from the Britannia's earnings call as compiled by Narnolia Financial Advisors:
The company has reduced inventory as it is implementing zero-day inventory programme. However, the company hasn’t extended credit days.
The difference between volume and revenue for the quarter was 1% due to the price hike taken by the company last year and the product mix.
The company continued to ramp up direct reach, as its direct reach remained around 2.17 mn outlets.
Rural distributors remained at 21000 in this quarter which helped company is gaining market share considerably.
The company will issue commercial paper up to Rs 800 crore from time to time for the strategic buying of wheat and other commodities.
The company plans to save 2.1% revenue from cost-efficiency programme for FY20& FY21.
Input inflation is expected to be in the range of 4-5%. The company will take judicious pricing action in selective brands to mitigate inflation.
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