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

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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 ChangeYoY Change
Net SalesRs m29,82734,19131,656-7.4%6.1%
Other incomeRs m65273582612.3%26.7%
TurnoverRs m30,47934,92632,482-7.0%6.6%
ExpensesRs m24,80627,43725,541-6.9%3.0%
Gross profitRs m5,0206,7496,115-9.4%21.8%
DepreciationRs m4674854860.2%4.0%
InterestRs m2372983186.6%34.3%
Profit before taxRs m4,9696,7016,137-8.4%23.5%
TaxRs m1,2731,7501,611-7.9%26.6%
Profit after taxRs m3,6964,9514,526-8.6%22.5%
Gross profit margin%16.819.719.3
Effective tax rate%25.626.126.2
Net profit margin%12.114.213.9
* 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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