BRITANNIA Announces Quarterly Results (2QFY20); Net Profit Up 32.9%

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BRITANNIA Announces Quarterly Results (2QFY20); Net Profit Up 32.9%
Wed, 13 Nov

BRITANNIA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

BRITANNIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m28,69627,00430,48812.9%6.2%
Other incomeRs m4406756821.0%55.0%
TurnoverRs m29,13627,67831,17012.6%7.0%
ExpensesRs m24,15223,05725,56610.9%5.9%
Gross profitRs m4,5443,7914,91129.6%8.1%
DepreciationRs m3694484490.2%21.5%
InterestRs m2410116159.8%566.9%
Profit before taxRs m4,5903,9164,98227.2%8.6%
TaxRs m1,5591,430955-33.2%-38.7%
Profit after taxRs m3,0312,4864,02762.0%32.9%
Gross profit margin%15.814.016.1
Effective tax rate%34.036.519.2
Net profit margin%10.49.012.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 6.2% on a year-on-year (YoY) basis. The expenses were up by 5.9% YoY during the same period.
  • The company's operating profit increased by 8.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 16.1% in 2QFY20.
  • Depreciation charges increased by 21.5% and finance costs increased by 566.9% YoY, respectively.
  • Other income increased by 55.0% YoY during the quarter.
  • Net profit for the quarter increased by 32.9% YoY. Net profit margins during the quarter increased from 10.4% in 2QFY19 to 12.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.9% QoQ during the same period.
  • The company's operating profit increased by 29.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY20 as against 14.0% in 1QFY19.
  • Net profit for the quarter increased by 62.0% QoQ, while net profit margins increased from 9.0% in 1QFY19 to 12.9% in 2QFY20.

To see how BRITANNIA has performed over the last eight quarters,please visit here.

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BRITANNIA Share Price Performance

Over the last one year,BRITANNIA share price has moved up from Rs 2,907.4 to Rs 3,270.3, registering a Gain of Rs 362.9 or around 12.5%.

Overall, the S&P BSE SENSEX is up 15.2% over the year.

Current Valuations

At the current price of Rs 3,270.3, the price to earnings (P/E) ratio of BRITANNIA stands at 63.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.5 times.

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