Britannia Q4 Results: Consolidated Net Profit Surges 47% YoY To Rs 557 Crore, Revenue Hikes By 13%

Britannia Industries net profit for the March quarter increased by 47% year over year (YoY) to Rs 559 crore on the strength of a revenue increase of over 13% to Rs 4,023.18 crore.

The company revealed that its consolidated net profit for FY23 increased by 52.3% YoY to Rs 2,322 crore. To reach Rs 16,300.55 crore, operating revenue increased by 15.3% year over year.

The biscuit manufacturer released its earnings. At Rs 4,626, the stock closed with an almost 1% gain on the National Stock Exchange. The stock reached an intraday high of Rs 4,636.95.

Operating profit increased by 47% YoY to Rs 736 crore in the March quarter. Operating profit increased 30% to Rs 2,605 crore in FY23.

"We delivered a robust growth of 11% in this quarter on the back of significant distribution gains, which reflects our execution strength across businesses and channels," said Varun Berry, Vice Chairman and Managing Director.

Britannia reported a 15% increase in consolidated sales for the FY23, reaching 15,985 crore, while operating profit increased 30% to 2,605 crore. The net profit, which takes into account unusual items, increased by 46% to Rs. 3,033 Crores.

The manufacturer of chocolate and dairy products recorded a staggering 475 basis points increase in margins in Q4 to 20.4%, despite YoY increases in input prices, labour costs, and other expenses. To Rs 1,717 crore, raw material costs increased by over 12% YoY. In the March quarter, 54% of all expenses were for raw materials.