Britannia Industries Ltd Q1FY21 consolidated PAT surges to Rs. 545.70 crore

BRITANNIA INDUSTRIES LTD. has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.3514.35 crores during the period ended June 30, 2020 as compared to Rs.2946.32 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.545.70 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.374.75 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.22.69 for the period ended June 30, 2020 as compared to Rs.15.58 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 3514.35 crs	₹ 2946.32 crs	19.28%
Net Profit	₹ 545.70 crs	₹ 374.75 crs	45.62%
EPS	₹ 22.69	₹ 15.58	45.64%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.3514.35 crores during the period ended June 30, 2020 as compared to Rs.2767.80 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.545.70 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.251.03 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.22.69 for the period ended June 30, 2020 as compared to Rs.10.44 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 3514.35 crs	₹ 2767.80 crs	26.97%
Net Profit	₹ 545.70 crs	₹ 251.03 crs	117.38%
EPS	₹ 22.69	₹ 10.44	117.34%

Commenting on the performance, Mr. Varun Berry, Managing Director, said: "The quarter posed an uphill task for the economy in wake of Covid-19 and caused significant disruptions due to lockdowns imposed to curtail its spread. Factories, depots, transport & vendors across the supply chain were impacted. Our top priority was to ensure safety of our employees & the eco-system we work with for which we laid out clear & stringent standard operating procedures and implemented them meticulously. We thank the sincere efforts put in by the employees, business partners, vendors, customers and the healthcare workers to sail through these times.

The challenging scenario brought the best out of the team and we implemented some innovative ways of working in Sales, Supply chain & other support functions. Our nimble culture helped us quickly adapt to the situation & meet the market demand. As soon as the lockdown was eased, we focussed on getting our distribution back to the pre-Covid levels and increasing our rural & hinterland reach. During this period, we also launched 'Winkin Cow Lassi' & a Rs. 5 Layer Cake pack to expand our reach. All the adjacent businesses too delivered a healthy profitable growth.

On the cost front, we witnessed moderate inflation in the prices of key raw materials and expect the prices to be stable going forward given the positive outlook on monsoon & harvest. Given the dynamic nature of the pandemic & associated uncertainty, we were quick to resort to cost efficiencies through extraction of supply chain efficiencies, reduction in wastages and fixed costs leverage. We also rationalized media spends considering the constraints of inventories due to higher market demand. These measures helped us improve the shape of our business and record a massive 670 bps increase in operating profit during the quarter.

We are diligently studying the impact of Covid 19 on short-term & long-term changes in consumer preferences, distribution models and are confident of overcoming challenges with agility."

Shares of BRITANNIA INDUSTRIES LTD. was last trading in BSE at Rs.3853.8 as compared to the previous close of Rs. 3724.65. The total number of shares traded during the day was 39831 in over 5611 trades.

The stock hit an intraday high of Rs. 3879.7 and intraday low of 3690.05. The net turnover during the day was Rs. 151293490.

Source : Equity Bulls

Keywords