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BRITANNIA Announces Quarterly Results (3QFY21); Net Profit Up 22.5%

BRITANNIA Announces Quarterly Results (3QFY21); Net Profit Up 22.5%
Wed, 10 Feb

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

BRITANNIA Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	29,827	34,191	31,656	-7.4%	6.1%
Other income	Rs m	652	735	826	12.3%	26.7%
Turnover	Rs m	30,479	34,926	32,482	-7.0%	6.6%
Expenses	Rs m	24,806	27,437	25,541	-6.9%	3.0%
Gross profit	Rs m	5,020	6,749	6,115	-9.4%	21.8%
Depreciation	Rs m	467	485	486	0.2%	4.0%
Interest	Rs m	237	298	318	6.6%	34.3%
Profit before tax	Rs m	4,969	6,701	6,137	-8.4%	23.5%
Tax	Rs m	1,273	1,750	1,611	-7.9%	26.6%
Profit after tax	Rs m	3,696	4,951	4,526	-8.6%	22.5%
Gross profit margin	%	16.8	19.7	19.3
Effective tax rate	%	25.6	26.1	26.2
Net profit margin	%	12.1	14.2	13.9

* 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 6.1% on a year-on-year (YoY) basis. The expenses were up by 3.0% YoY during the same period.
The company's operating profit increased by 21.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.3% in 3QFY21 as against 16.8% in 3QFY20.
Depreciation charges increased by 4.0% and finance costs increased by 34.3% YoY, respectively.
Other income increased by 26.7% YoY during the quarter.
Net profit for the quarter increased by 22.5% YoY. Net profit margins during the quarter increased from 12.1% in 3QFY20 to 13.9% in 3QFY21.

Quarter-on-Quarter Performance:

The company's operating income during the quarter fell 7.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.9% QoQ during the same period.
The company's operating profit declined by 9.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.3% in 3QFY21 as against 19.7% in 2QFY20.
Net profit for the quarter declined by 8.6% QoQ, while net profit margins declined from 14.2% in 2QFY20 to 13.9% in 3QFY21.

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 3,155.2 to Rs 3,428.6, registering a Gain of Rs 273.4 or around 8.7%.

Overall, the S&P BSE SENSEX is up 24.9% over the year.

Current Valuations

At the current price of Rs 3,428.6, the price to earnings (P/E) ratio of BRITANNIA stands at 44.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.7 times.

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BRITANNIA SHARE PRICE

BSE: 3,696.15 0.08% NSE: 3,696.50 0.10%
Apr 16, 2021 (Close)

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LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.

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BRITANNIA Announces Quarterly Results (3QFY21); Net Profit Up 22.5% Wed, 10 Feb