On November 1, Britannia Industries Ltd. revealed a consolidated net profit for the September quarter of FY24 of Rs 586.50 crore, up 19.55 percent from Rs 490.58 crore recorded in the same quarter the previous year.
According to a regulatory filing, the company’s overall revenue from operations climbed 1.21 percent to Rs 4,432.88 crore from Rs 4,379.61 crore the previous year.
The company’s operating margin, or profits before interest, depreciation, taxes, and amortisation (EBIDTA), increased by 22.5 percent to Rs 872.4 crore in the September 2023 quarter from Rs 711.7 crore in the same period the previous year.
Brokerage firms polled predicted that Britannia will generate revenue of Rs 4,474 crore and net profit of Rs 549 crore.
Britannia‘s total sales for the quarter that ended in September were Rs 4,370 crore, up 0.76 percent from Rs 4,337 crore during the same period last year.
Compared to Rs 2,245.94 crore during the same quarter last year, costs of materials utilized climbed by 1.6 percent to Rs 2,282.58 crore in the July-September period.
Comparing the same period last year to this quarter, the company’s operating margin increased to 18.04 percent from 15.07 percent.
Varun Berry, Vice Chairman & Managing Director, commented on the success, saying that in a difficult economic environment that included two years of high inflation, the company generated strong results. This quarter’s success, he said, was due to the launch of new goods including 50-50 Golmaal and Jim Jam Pops.
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