InvestorQ : Why has Britannia stock touched an all-time high after its latest results announcement for the second quarter?
Moii Chavate made post

Why has Britannia stock touched an all-time high after its latest results announcement for the second quarter?

Answer
image
Tisha Malhotra answered.
3 weeks ago
Follow

It was a set of stellar results announced by Britannia and not surprisingly the stock of Britannia Industries touched an all-time high of Rs 4,182. After the numbers were announced, the stock has rallied 10% post the results announcement. Apart from strong revenue growth, Britannia Industries also saw its market share touch a 15-year high. In the process, the euphoria also resulted in its market cap crossing the Rs1 trillion mark. Numbers were extremely encouraging in Q2FY23. The sales revenues of Britannia were up 22% yoy at Rs4,338 crore while operating profits were up 30% at Rs660 crore. Amidst cost inflation pressures, the EBITDA margins expanded 80 bps to 16.3%, and this is despite the pressure of downward brand shifts in large swathes of rural India.

2 Views