Total revenue from operations came at Rs 2,982.7 crore, up 4.95 percent YoY against Rs 2,842 crore. Revenue came below CNBC-TV18 estimates of Rs 3,033 crore.
Britannia Industries on February 7 reported a 23.26 percent year-on-year (YoY) rise in its consolidated net profit to Rs 369.9 crore for the December quarter of the financial year 2020 against Rs 300.10 crore reported in the corresponding quarter of the previous financial year.
A CNBC-TV18 poll had projected Q3 FY20 profit at Rs 360 crore.
Total revenue from operations came at Rs 2,982.7 crore, up 4.95 percent YoY against Rs 2,842 crore. Revenue came below CNBC-TV18 estimates of Rs 3,033 crore.
EBITDA climbed 11 percent YoY to Rs 502 crore in Q3FY20 against Rs 451.8 crore in Q3FY19 and CNBC-TV18 poll of Rs 481 crore. EBITDA margin stood at 16.8 percent against 15.9 percent (YoY) and CNBC-TV18 poll of 15.9 percent.
For All Earnings Related News - Click Here
"We chose to focus on strengthening the building block of the business rather than pushing sales in the face of a low offtake scenario. We continued to expand the width and depth of distribution but additionally focused on improving distributor health and keeping the supply chain efficient. Further, during this phase of sluggish demand, we continued to invest in enhancing our brand equity through focused product campaigns. As a result of our efforts, we continue to strengthen our position as a dominant market leader," said Varun Berry, Managing Director.
Berry also said that there was a significant increase in milk prices which impacted the company's dairy business.
"We are hopeful that in this country, the slowdown can only be short-lived & our focused efforts on distribution and processes will help us get back on a high growth trajectory and consistently enhance value for all our stakeholders," said Berry.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.
