Britannia Industries reports Stellar performance for Q2
Britannia Industries has announced strong numbers for the second quarter with 23 percent increase in profit. The FMCG major reported better-than-expected margins during the quarter ending September 30, 2020 and market analysts are confident about performance for the next quarter as well. The consolidated revenue registered 12.1 percent increased compared to the same quarter last year.
Britannia Industries reported 37.2 percent increase in EBITDA for the quarter. The margin improved by 360 basis points to 19.75 percent during the quarter. During the lockdown imposed to control COVID-19, FMCG companies registered strong sales. The numbers for Britannia were impacted due to high tax outgo but the company is confident about delivering a strong performance in the next quarter as well.
Commenting on the quarterly performance, Managing Director Varun Berry said, “In this quarter, we got our full range of products to the market, focussed on efficiency in distribution, followed continuous replenishment system of distribution, improved the health of our distributors and inched closer to normalcy in advertisement & promotions. The nimble culture & the hard work put in by the team helped deliver a resilient performance in these challenging times. All the adjacent businesses too delivered a healthy profitable growth.”
Research houses will soon comment on the results announced by Britannia and we can expect upgrades for the stock.