New Delhi, June 03, 2020.

Shares of Britannia Industries surged over 7 per cent to hit a new high of Rs 3,704.55 apiece on the BSE on Wednesday, a day after the company reported largely in-line numbers for the fourth quarter (Q4FY20) of the last financial year, despite the lockdown hitting revenue and profit growth by 7-10 per cent.

At 09:25 am, the stock was trading nearly 6.5 per cent higher at Rs 3,657.55 on the BSE. In comparison, the benchmark S&P BSE Sensex was ruling 1.5 per cent higher at 34,325-mark.

Britannia’s profit before tax (PBT) stood at Rs 457.27 crore for Q4 — a marginal rise of 1.6 per cent year-on-year (YoY). However, consolidated net profit rose 26.5 per cent to Rs 372.35 crore from Rs 294.27 crore helped by a lower tax outgo, with the firm migrating to the new tax regime. On sequential basis, it remained flat during this period

Revenue rose 2.9 per cent to Rs 2,946 crore, against Rs 2,861 crore last year. Sequentially, however, it declined by 3.3 per cent.

The FMCG major said that after the initial hiccups, the firm coped up well and witnessed 20 per cent rise in revenues in April, and 28 per cent in May — both year-on-year (YoY) — aided by several measures.

“After nine months of moderate growth, we started seeing a revival in the first two months of this quarter, which was then hit by the pandemic. The lockdown affected revenue and net profit growth by 7-10 per cent. During this period, we continued to gain market share through our focus on distribution, diligence in marketplace, and brand-building through focussed product campaigns,” said Varun Berry, managing director of Britannia

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