BackBritannia shares rise 12% after profit surges in Q4
Britannia reported a 54.7% jump in its net profit in the March quarter from the year-ago period, to Rs167.36 crore
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Mumbai: Britannia Industries Ltd gained as much as 11.86% to ₹ 2,556.45 per share on Friday after the biscuit maker reported a 54.7% jump in its net profit in the March quarter to ₹ 167.36 crore.
Stable ingredient costs and new launches, supported by higher advertising and marketing spending, helped the firm expand margins.
At 09.36am, Britannia shares were trading up 7.25% to ₹ 2,451.
Revenue in the quarter rose 14.3% from the year-ago period to ₹ 2,031.83 crore. Advertising spending surged 38.7% to ₹ 202.8 crore. The firm spent more on advertising and promotions during the quarter to support new product launches and to participate in large marketing events such as the cricket World Cup.
Steady prices of wheat and sugar helped the firm boost its margins. “On the bottomline, we’ve been helped by commodity prices," said managing director Varun Berry.
In November, it had launched an expensive version of its Good Day biscuits called Good Day Chunkies, priced at ₹ 50 for six cookies.
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