Britannia Industries Results

Berry told Business Standard in an interview that the company was aiming to increase its revenues from cheese products by five times within the next five years

It sells 49 per cent stake in Britannia Dairy for Rs 262 crore

FMCG major has been gaining market share for 38 consecutive quarters now, stands at 15-yr high

CLOSING BELL: PSU banks were the worst hit today with the Nifty PSB index down 1.75 per cent

Analysts, on average, expect the company to post a 2 per cent drop in core profit-after-tax (PAT) to Rs 378 crore in Q1FY23 from Rs 387 crore in the year-ago period.

Its stock price is up 20% since the beginning of August, against 10% rally in Sensex

Analysts forecast a high, single-digit growth in sales volume along with up to 25 per cent YoY growth in net profit for the FMCG giant

Stock hits all-time high on growth uptick in April, May

The FMCG major said that after the initial hiccups, the firm coped up well and witnessed 20 per cent rise in revenues in April, and 28 per cent in May

Net sales were up 5.88 per cent to Rs 3,022.91 crore during the quarter under review as against Rs 2,854.81 crore of the corresponding quarter previous fiscal.

For the quarter ended June 30, 2019, Britannia Industries reported a 5.9 per cent year-on-year (YoY) growth in consolidated net sales at Rs 2,677.3 crore, while its net profit fell by 3.7 per cent YoY

During the quarter, the company also posted an exceptional expense of Rs 15.61 cr on account of voluntary retirement cost incurred in one of its subsidiaries

Consolidated revenue rose at the rate of 6% to Rs 2,316 crore