Britannia Industries reported a consolidated net profit of ₹455.45 crore in the April-to-June quarter of FY24. This represents a 35.65 per cent increase year-on-year, compared to ₹335.74 crore in June 2022.
The FMCG major posted total revenues from operations of ₹4,010.70 crore, a 8.36 per cent growth year-on-year, compared to ₹3,700.96 crore in the same quarter last year.
Although revenue was mostly in line with market expectations, net profit fell short. Brokerages polled had estimated Britannia’s revenue and net profit to be around ₹4101 crore and ₹517 crore, respectively.
For the June quarter, its EBITDA increased 37 per cent year-on-year to ₹689 crore from ₹501 crore during the same time last year. During the reviewed quarter, EBITDA margins increased by 364 basis points to 17.2 per cent.
The packaged food player reported earnings after markets closed. Earlier in the day, the stock ended 0.08 per cent higher at ₹4,802.55 on the National Stock Exchange.