Britannia Q2 profit jumps 23% to Rs 498 crore, EBITDA margin beats estimates

Britannia Industries, India's leading food company, has reported a 23.2 percent year-on-year growth in consolidated profit at Rs 498.13 crore for the quarter ended September 2020, driven by normalcy in all segments. However, an 82 percent increase in tax expenses impacted profitability.

The company's consolidated revenue grew by 12.1 percent year-on-year to Rs 3,419.11 crore in the July-September quarter.

"In this quarter, we got our full range of products to the market, focussed on efficiency in distribution, followed continuous replenishment system of distribution, improved the health of our distributors and inched closer to normalcy in advertisement & promotions. The nimble culture & the hard work put in by the team helped deliver a resilient performance in these challenging times. All the adjacent businesses too delivered a healthy profitable growth," Managing Director Varun Berry said.

On the earnings front, earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 37.2 percent to Rs 675.39 crore YoY, while margin expanded by 361 bps YoY to 19.75 percent in Q2FY21, which was ahead of CNBC-TV18 poll estimates of 19.2 percent for the quarter.

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