Britannia tastes crunchy

Britannia Industries has become very sweet on Dalal Street today, following its earnings for Q4FY22. From its close of Rs.3272.65, it opened today at Rs.3330.20 and went on to hit an intraday high at Rs.3590.85, just a tad away from its 10% UC of the day at Rs.3599.90.

The stock is up after its earnings for Q4Fy22 came in much ahead of expectations. The FMCG posted a 4% (YoY) rise in consolidated net profit at Rs.380 crore and this was on a 15.5% rise in revenue from operations at Rs.3508 crore.

Operating profit rose 10% at Rs.499 crore and this was despite a 14% increase in total expenses.

The company ended FY22 with a 18% drop in consolidated net profit at Rs.1525 crore and this was on an 8% rise in revenue from operations at Rs.13,945 crore.

The board recommended a dividend of Rs 56.5 per share.