Britannia Industries Ltd Q3FY21 consolidated net profit drops QoQ to Rs. 455.75 crores

BRITANNIA INDUSTRIES LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.3248.17 crores during the period ended December 31, 2020 as compared to Rs.3492.61 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.455.75 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.498.13 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.18.92 for the period ended December 31, 2020 as compared to Rs.20.68 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 3248.17 crs	₹ 3492.61 crs	-7%
Net Profit	₹ 455.75 crs	₹ 498.13 crs	-8.51%
EPS	₹ 18.92	₹ 20.68	-8.51%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.3248.17 crores during the period ended December 31, 2020 as compared to Rs.3047.86 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.455.75 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.372.63 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.18.92 for the period ended December 31, 2020 as compared to Rs.15.49 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 3248.17 crs	₹ 3047.86 crs	6.57%
Net Profit	₹ 455.75 crs	₹ 372.63 crs	22.31%
EPS	₹ 18.92	₹ 15.49	22.14%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.10255.07 crores during the 9 months period ended December 31, 2020 as compared to Rs.8932.63 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.1499.58 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.1027.88 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.62.29 for the 9 months period ended December 31, 2020 as compared to Rs.42.76 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 10255.07 crs	₹ 8932.63 crs	14.8%
Net Profit	₹ 1499.58 crs	₹ 1027.88 crs	45.89%
EPS	₹ 62.29	₹42.76	45.67%

Commenting on the performance, Mr. Varun Berry, Managing Director, said: "General Trade, which is the largest channel for us, continues to grow at a healthy pace on the back of buoyancy in rural economy and recovery in urban markets. The other channels such as Modern Trade, Institutional business etc continue to face challenges with lower footfalls in stores and offices, schools, railway services coming back to normalcy gradually. Essentials were at elevated levels of demand at the beginning of the year due to pantry up-stocking which has started to normalize with diversification of purchase basket of the consumers.

We continue to focus our efforts on the basic building blocks of our business which include direct reach, rural distribution, range selling, higher throughput, salesmen productivity & invest in enhancing our brand equity through focused product campaigns.

On the cost front, we witnessed moderate inflation in the materials prices except Palm oil where we witnessed a significant increase. We neutralized the inflation by accelerating our cost efficiencies & sustained the new efficiencies that we witnessed during the Covid-19 induced lockdown. These measures helped us record a 260 bps increase in operating profit during the quarter vs. last year.

Going forward, we intend to accelerate the pace of Innovation & new launches, strengthen our distribution infrastructure and continue our focus on brand building to drive growths and market share. We also expect that the recently announced Union Budget 2021, would provide the much-needed impetus to the demand scenario."

Shares of BRITANNIA INDUSTRIES LTD. was last trading in BSE at Rs.3541.3 as compared to the previous close of Rs. 3579.75. The total number of shares traded during the day was 30383 in over 4335 trades.

The stock hit an intraday high of Rs. 3627.7 and intraday low of 3531.3. The net turnover during the day was Rs. 108174382.

Source : Equity Bulls

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