Home / Financial News / Britannia Industries hits new high

Britannia Industries hits new high

Shares of Britannia Industries has rallied nearly 4% to Rs 1,949, also its record high on the National Stock Exchange (NSE), in otherwise subdued market.

The stock has outperformed the market by gaining 16% from its recent low of Rs 1,675 touched on December 17, 2014, after the Union Cabinet cleared the Goods & Services Tax (GST) Amendment Bill. The benchmark CNX Nifty gained 1.4% during the same period.

Meanwhile, analyst at Nirmal Bang expects Britannia Industries to report healthy operating profit and net profit growth for the October-December quarter (Q3FY15).

“We expect 13% year-on-year (YoY) increase in consolidated sales to Rs 2,030 crore. Consolidated gross margin increase of around 70bps YoY in Q3FY15 and unusually higher advertising and promotion spending in base quarter 3QFY14 is expected to result in a 84bps YoY consolidated EBITDA margin expansion to 9.7% and 23.6% YoY consolidated EBITDA rise to Rs 198 crore in 3QFY15,” analyst said in a report.

Healthy EBITDA growth YoY will lead to healthy net profit as well, which is expected to grow 25.2% to Rs 126 crore, he adds.


Check Also

Debate on Article 370 marked by posturing, says RSS

The Rashtriya Swayamsevak Sangh (RSS) is recalibrating its discourse on its demand ...

Street cautiously positive on JSPL post coal mine

Jindal Steel and Power (JSPL), which witnessed its lowest point in the ...