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Shares of Britannia Industries rose on Monday after the company reported a 13 per cent jump in net profits at Rs 219.13 crore in April-June quarter compared with Rs 193.66 crore a year-ago period, way higher than estimated.
"We continue to outpace the market with go to market strategy of creating a robust distribution network with unrelenting focus on rural and our weak states," Varun Berry, managing director, said.
Total income of the company from operations during the quarter rose 9% year-on-year (YoY) to Rs 2,197 crore, against Rs 2,014 crore in the corresponding quarter of previous year.
Britannia Industries's EBITDA (Earnings before interest, taxes, depreciation, and amortization) profit rose 9.7% year-on-year to Rs 316 crore, where as the company's margins increased to 14.41% from 14.32%.
Shares of the Britannia were seen trading at Rs 3,096, higher by 7.47 per cent on BSE at 1.00 pm IST. It touched an intra-day high of Rs 3,117 during trade.
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