Britannia Industries glimpsed with an increase | Arriba Trends

Britannia Industries glimpsed with an increase

The economy and the share market has been drastically affected, post-lockdown. Some companies experienced a rise while some witnessed a pitfall. The share price of the famous Britannia Industries took a quantum jump by 6 percent on Wednesday, 3rd June. The news came in after the results of the March quarter were declared and the company hit its record high of Rs 3,704.55 per share.

The company registered a 26.1 percent YoY growth that was largely a result of lower tax costs. For the March quarter, the company recorded a compact profit of Rs 374.75 crore. The sales volumes took a quiver during the lockdown. Before that, the revenue operations grew to Rs 2,867.7 crore. The rate of growth was 2.5 percent every year.

The company stated that it observed a revenue growth of about 20 percent in the month of April while 28 percent growth was witnessed in the month of May. The growth was in comparison to the corresponding months of the previous year. For the financial year 2019-2020, an interim dividend of Rs 35 per share was declared by the company in the month of April. It is being reported that Britannia Industries possesses decreasing zero promoter pledge while strong momentum is noticed in stock.

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