Britannia Industries Ltd posts consolidated PAT of Rs. 389.55 crores in 1QFY22

BRITANNIA INDUSTRIES LTD. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.3463.93 crores during the period ended June 30, 2021 as compared to Rs.3193.94 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.389.55 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.364.32 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.16.17 for the period ended June 30, 2021 as compared to Rs.15.12 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 3463.93 crs	₹ 3193.94 crs	8.45%
Net Profit	₹ 389.55 crs	₹ 364.32 crs	6.93%
EPS	₹ 16.17	₹ 15.12	6.94%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.3463.93 crores during the period ended June 30, 2021 as compared to Rs.3514.35 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.389.55 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.545.70 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.16.17 for the period ended June 30, 2021 as compared to Rs.22.69 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 3463.93 crs	₹ 3514.35 crs	-1.43%
Net Profit	₹ 389.55 crs	₹ 545.70 crs	-28.61%
EPS	₹ 16.17	₹ 22.69	-28.74%

Commenting on the performance, Mr. Varun Berry, Managing Director, said: "Second wave of Covid-19 struck the country hard followed by lockdowns imposed by various State Governments. We witnessed evolving nature of the pandemic as well as consumer sentiment & behaviour. In these uncertain times, we delivered a healthy Consolidated 24-month Sales growth of 25% and Net Profit growth of 55%. This performance is a testament to our resilience as a company and more importantly as a team.

During these challenging times to ensure safety, our salesmen were advised to operate from home, however we left no stone unturned in driving our distribution agenda. We relaunched Goodday Chocochips with a surprise campaign and launched 50-50 Potazos in the North East. Our brands were back on air and our full range of products in market as the supply chain was impact wasn't as severe as the first wave of the pandemic.

On the cost front, we continued to witness increase in the prices of palm oil and crude. In light of hardship to the consumers owing to the pandemic, we were cautious on pricing but aggressive on cost efficiencies, which helped us improve our operating profit from 14.9% in Q4'20-21 to 15.1% in Q1'21-22. We shall take calibrated price increases as things normalize and will continue to create and sustain an ecosystem of financial & operating efficiencies through rigorous process improvements which would act as a strong pillar for sustainable growth."

Shares of BRITANNIA INDUSTRIES LTD. was last trading in BSE at Rs. 3420.05 as compared to the previous close of Rs. 3405.6. The total number of shares traded during the day was 18916 in over 2669 trades.

The stock hit an intraday high of Rs. 3428 and intraday low of 3380. The net turnover during the day was Rs. 64438064.

Source : Equity Bulls

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