FMCG major Britannia on Monday reported a net profit of Rs381.8 crore for the quarter ended September, missing Street estimates by a wide periphery. The net profit fell22.9 percent on a time-on- time base. The company reported profit of Rs crore for the alternate quarter of the current fiscal time, up5.5 percent onyear.Analysts in a CNBC-TV18 bean had prognosticated the company’s net profit at Rs495.2 crore over profit of Rscrore.The company’s earnings before interest, levies, deprecation and ammortisation (EBITDA) stood at Rs 558 crore in the July-September period, down17.4 percent on time.
The EBITDA periphery came in at15.5 percent in the three months to September 30, as against19.8 percent in the time-ago period.
Judges in the CNBC-TV18 bean had estimated the Kolkata- grounded FMCG company’s EBITDA at Rs 595 crore, and EBITDA periphery at16.7 percent.
Britannia said it’s witnessing unknown affectation in input raw material. The FMCG major said it has been suitable to incompletely alleviate the impact through strategic forward covers and accelerated cost effectiveness programs.
“ During the quarter, the impact of the alternate surge of COVID-19 started retreating, and the profitable exertion started picking up. Still, inflationary trends remained rampant around the globe, across sectors. In line with our strategy, we continued our focus on adding direct distribution and perfecting our pastoral footmark. In this time, we saw advanced growth in request share and as a result, we significantly corroborated our request leadership,” said Britannia Managing Director Varun Berry.
The company initiated necessary price increases across its portfolio, which would address the cost drive and normalise profitability, he said.”We’re confident that our flexible brands and strategic growth enterprise will hold us on a path of profitable share gain in the future as well,”Berry added.
Britannia shares ended1.6 percent advanced at Rs all on BSE ahead of the earnings advertisement. The caption Sensex indicator ended a unpredictable session with a gain of0.8 percent.