Britannia Industries Ltd. posted a year-on-year jump in net profit of 19.4% to Rs. 258 crore for the April-June period of the FY 2019. The revenue at the company also registered a YoY increase of 12.4 per cent at Rs. 2,544 crore during the same period.
The quarterly earnings of the company were largely in line with the estimates.
The operating income or EBITDA i.e. earnings before interest, tax, depreciation and amortization also surged by 23.3% on a year on year basis in the June quarter to Rs. 389 crore. Also, during the reporting period, operating margins increased to 15.3%, with an expansion of 80 basis points. 1 basis point is one-hundredth of a percentage point.
The company highlighted that it will enter its centenary year of operation this year. Nonetheless, its international business is going through a flattish trade owing to slow-down in countries including Africa and the Middle East. Also, the company's dairy business is witnessing subdued growth as Britannia puts its focus to value added products and move away from less-profitable commoditised segment.
As per the exchange filing, the biscuit maker will deliberate on the stock-split issue on August 23, 2018.
After the quarterly result, the stock of Britannia Industries surged 1.66% to Rs. 6,395 for a share. The stock was last seen quoting lower by 0.80% against previous day's closing at Rs. 6344.40 on the BSE.