BRITANNIA Announces Quarterly Results (2QFY21); Net Profit Up 22.9%

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BRITANNIA Announces Quarterly Results (2QFY21); Net Profit Up 22.9%
Thu, 22 Oct

BRITANNIA has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

BRITANNIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m30,48834,20734,1910.0%12.1%
Other incomeRs m682937735-21.5%7.9%
TurnoverRs m31,17035,14434,926-0.6%12.1%
ExpensesRs m25,56627,03727,4371.5%7.3%
Gross profitRs m4,9117,1686,749-5.9%37.4%
DepreciationRs m4494804851.1%8.1%
InterestRs m16125629816.4%84.7%
Profit before taxRs m4,9827,3706,701-9.1%34.5%
TaxRs m9551,9441,750-10.0%83.2%
Profit after taxRs m4,0275,4264,951-8.8%22.9%
Gross profit margin%16.121.019.7
Effective tax rate%19.226.426.1
Net profit margin%12.915.414.2
* 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 12.1% on a year-on-year (YoY) basis. The expenses were up by 7.3% YoY during the same period.
  • The company's operating profit increased by 37.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.7% in 2QFY21 as against 16.1% in 2QFY20.
  • Depreciation charges increased by 8.1% and finance costs increased by 84.7% YoY, respectively.
  • Other income increased by 7.9% YoY during the quarter.
  • Net profit for the quarter increased by 22.9% YoY. Net profit margins during the quarter increased from 12.9% in 2QFY20 to 14.2% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.5% QoQ during the same period.
  • The company's operating profit declined by 5.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.7% in 2QFY21 as against 21.0% in 1QFY20.
  • Net profit for the quarter declined by 8.8% QoQ, while net profit margins declined from 15.4% in 1QFY20 to 14.2% in 2QFY21.

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

Discover: India's #1 Defence Stock

BRITANNIA Share Price Performance

Over the last one year, BRITANNIA share price has moved up from Rs 3,246.9 to Rs 3,458.0, registering a Gain of Rs 211.2 or around 6.5%.

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 3,458.0, the price to earnings (P/E) ratio of BRITANNIA stands at 46.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.9 times.

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