Britannia Industries on Friday posted a 18.9% increase in standalone net profit for the third quarter ended December from a year earlier, even as revenue rose 6%.
Net Profit
The company posted a net profit of Rs 428.39 crore on revenue of Rs 3165.6 crore for the quarter ended December.
Revenue and Operating Profit
Revenue rose 6% over the year earlier to Rs 3,165.6 crore, against the projected Rs 3,240.4 crore.
ER Ratio
The company’s expense-to-revenue ratio fell to 83.2% in the quarter ended December, down from 85.5% a year earlier.
Comment from MD
“We neutralised the inflation by accelerating our cost efficiencies and sustained the new efficiencies that we witnessed during the Covid-19 induced lockdown.”
“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.”
Demand for essentials which were at elevated levels at the beginning of the year due to stocking has started to normalise with diversification of the consumer purchase basket, the company said.
Impact on Stock Market
The company announced the quarter results after the market closed. The company stock closed at Rs 3541.30 on the BSE on Friday, down 1.07% from the previous close.
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