Britannia 1 quarter result doubles to ₹543 crores beats street estimates

Yash Sapra, INN/Gwalior, @infodeaofficial

Britannia Industries Limited is an Indian food product Corporation which was founded in 1892 and headquartered in Kolkata, it is one of India’s oldest Existing companies and also now a part of the Wadia group Headed by Nusli Wadia.

The company performed Outstanding in the share market. Its current share market price is 3783 rupees. Through the recent reports, Britannia Industries on Friday posted a 118.25 % year-on-year rise in Net profit at rupees 542.68 crores For the quarter ended June 30.

It had posted a net profit of rupees 248.64 crores in the corresponding quarter last year. consolidated revenue of the company increased 26.67%  year on year 2 Rupees 3420.67 crores in quarter 1 fy21.

The figure excludes other income of ₹93.68 crores.  through the reports, the company has projected a profit of rupees 413 crores. Consolidated EBITDA of the biscuit maker Rose to rupees 71 7.4 crores in April to June period from rupees 395 crores in the year-ago period.

The company reported margin at 20.98 percent. The quarter posted an Uphill task for the economy in the wake of COVID-19 and caused significant disruption due to lockdown imposed to curtail its spread.

Factories deposits transport and vendors across the supply chain were impacted. Our nimble culture helped us quickly adapt to the situation and meet the market demand stated Varun Berry the Managing Director of Britannia Industries.

The management attributed the cost efficiency and reduced advertising as reasons behind doubling the bottom line during the quarter. We Work quickly to Resort to cost efficiency through the extraction of supply chain efficiencies, reduction in vestiges, and fixed cost leverage.

We also rationalized the media spends. These measures help us improve the shape of our business and record a massive 670 BPS increase in operating profit during the quarter stated Berry the Managing Director of the company.

The Wadia group company which shows moderate inflation in the prices of ki raw materials, expects the prizes to be stable going forward given the positive outlook on the monsoon and harvest. 

The company’s Managing Director also stated that it was so difficult working amid the situations of COVID-19  but the company implemented some innovative ideas and ways of working in the sales supply chain and other supportive functions resulting in which they booked a huge profit.