Britannia Industries - Q2FY21 Results - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"On a Consolidated basis for Q2FY21, Britannia Industries reported 12.1% growth in revenue to ₹3,419 crore. Due to improvement in gross margin, the Company's operating profit margin increased by 370 basis points to 19.8%. Operating margin expanded due to benign raw material cost and impact of operating leverage due to increase in volume. For the quarter, operating profit and PAT increased by 37.3% and 22.5% respectively. Jump in PAT was less than operating profit due to an increase in tax rate and finance cost compared to last year. Numbers missed street expectation on all fronts of revenue, operating profit and PAT. While the Government is easing restrictions and the economy is on the path of recovery, we believe it will take some time for business to be back to normal."

Shares of BRITANNIA INDUSTRIES LTD. was last trading in BSE at Rs.3773.8 as compared to the previous close of Rs. 3747.55. The total number of shares traded during the day was 16654 in over 2838 trades.

The stock hit an intraday high of Rs. 3795 and intraday low of 3744.2. The net turnover during the day was Rs. 62864724.

Source : Equity Bulls

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