Britannia Industries share price hits all-time high post Q1 earnings

Britannia Industries share price was trading higher today after the FMCG firm announced net profit rose 117 per cent in the April-June quarter. Share price of Britannia Industries opened 2.38% higher at Rs 3,874 against previous close of Rs 3,784 today.  The share gained 5.31% to Rs 3,985, a fresh all-time high  on BSE.

The large cap stock has gained 5.01% in last 2 days. Britannia Industries share trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 28.27% since the beginning of this year and risen 41.43% during the last one year. Total 0.27 lakh shares changed hands amounting to turnover of Rs 10.41 crore on BSE.

The share hit its all-time high on July 17, 2020 ahead of its Q1 earnings.  On March 23 this year, the share fell to Rs 2,100 on BSE. Net profit in Q1 stood at Rs 546 crore against Rs 248.64 crore profit in corresponding quarter of last year.  Revenue rose 26 per cent to Rs 3,384 crore.

Consolidated EBITDA rose to Rs 717.4 crore in Q1 compared to Rs 395 crore in the year-ago period. "The quarter posed an uphill task for the economy in wake of COVID-19 and caused significant disruptions due to lockdowns imposed to curtail its spread. Factories, depots, transport and vendors across the supply chain were impacted. Our top priority was to ensure the safety of our employees & the eco-system we work with for which we laid out clear & stringent standard operating procedures and implemented them meticulously," said Varun Berry, Managing Director of Britannia.