Britannia Industries logs 35% y-o-y growth in Q1 net profit at Rs 455.45 crore

7 Aug 2023 , 09:35 AM

Britannia Industries announced its results and declared a consolidated net profit of Rs 455.45 crore for the June quarter of FY24 on August 4, up 35% from Rs 335.74 crore the previous year. However, on a sequential basis, net profit fell 18.3% from Rs 557.60 crore.

According to a regulatory filing, the company’s revenue climbed 8.36% to Rs 4,010.70 crore from Rs 3,700.96 crore a year ago, while falling 0.31% sequentially.

EBITDA stood at Rs 689 crore, up 37.60%. The EBITDA margin increased by 370 basis points to 17.2%. One basis point is equivalent to one tenth of a percentage point.

We have completed a very successful fiscal year that saw economic recovery amid unprecedented inflationary conditions. We led price initiatives to balance inflation and preserve profitability as industry leaders, said the company.

At around 9.32 AM, Britannia Industries was trading 1.63% lower at Rs 4,720.25 apiece, against the previous close of Rs 4,798.50 on NSE. The counter slipped to an intraday low of Rs 4,708.05 in today’s trade as the company misses street estimates.

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