BRITANNIA Announces Quarterly Results (4QFY20); Net Profit Up 26.4%

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BRITANNIA Announces Quarterly Results (4QFY20); Net Profit Up 26.4%
Fri, 5 Jun

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

BRITANNIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m27,99029,82728,677-3.9%2.5%
Other incomeRs m61865278620.6%27.2%
TurnoverRs m28,60830,47929,463-3.3%3.0%
ExpensesRs m23,62424,80624,134-2.7%2.2%
Gross profitRs m4,3665,0204,540-9.6%4.0%
DepreciationRs m4694674853.8%3.3%
InterestRs m1323727014.0%2059.2%
Profit before taxRs m4,5024,9694,572-8.0%1.5%
TaxRs m1,5571,273849-33.3%-45.4%
Profit after taxRs m2,9463,6963,7220.7%26.4%
Gross profit margin%15.616.815.8
Effective tax rate%34.625.618.6
Net profit margin%10.312.112.6
* 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 2.5% on a year-on-year (YoY) basis. The expenses were up by 2.2% YoY during the same period.
  • The company's operating profit increased by 4.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 15.8% in 4QFY20.
  • Depreciation charges increased by 3.3% and finance costs increased by 2059.2% YoY, respectively.
  • Other income increased by 27.2% YoY during the quarter.
  • Net profit for the quarter increased by 26.4% YoY. Net profit margins during the quarter increased from 10.3% in 4QFY19 to 12.6% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.7% QoQ during the same period.
  • The company's operating profit declined by 9.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 4QFY20 as against 16.8% in 3QFY19.
  • Net profit for the quarter increased by 0.7% QoQ, while net profit margins increased from 12.1% in 3QFY19 to 12.6% in 4QFY20.

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 2,961.0 to Rs 3,442.9, registering a Gain of Rs 481.9 or around 16.3%.

Overall, the S&P BSE SENSEX is down 14.4% over the year.

Current Valuations

At the current price of Rs 3,442.9, the price to earnings (P/E) ratio of BRITANNIA stands at 59.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 19.5 times.

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