Boosted by a superior product mix and higher price realisations, biscuit maker Britannia posted a 65.68 per cent rise in Q2 FY14 profit to Rs 97.64 crore on a consolidated basis, compared with Rs 58.93 crore in the same period last year. Revenue grew 12.60 per cent to Rs 1,755.75 crore (Rs 1,559.28 crore). EPS stood at Rs 8.15 (Rs 4.93).
The company’s operating margin rose by 435 basis points on a year-on-year basis to 8.6 per cent. V. Srinivasan, an analyst at Angel Broking, said: “The margin expansion was also aided by decline in the prices of raw materials such as sugar and palm oil. The bottom-line rose 109.8 per cent y-o-y to Rs. 96 crore and was marginally ahead of estimates.”
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