Britannia Industries shares surge on hopes of robust Q3 earnings; stock among top Nifty gainers
Britannia Industries is expected to report strong earnings for the October-December quarter in the financial year 2022-23 (Q3FY23) on Wednesday, February 1, 2023.
Shares of Britannia Industries – a fast-moving consumer goods giant – were among the top Nifty50 gainers ahead of its Q3 results on Wednesday. The stock has jumped nearly 3 per cent to touch a day’s high level of Rs 4,444 per share on the BSE intraday.
At around 10:05 AM, Britannia's share price was at Rs 4415.95 apiece, up over Rs 97 or 2 per cent on the BSE as compared to a 0.71 per cent rise in the S&P BSE Sensex.
Q3 Results Expectations
Britannia Industries is expected to report strong earnings for the October-December quarter in the financial year 2022-23 (Q3FY23) on Wednesday, February 1, 2023.
The profit of the FMCG company is likely to grow by 25 per cent on a year-on-year basis to Rs 460 crore in December quarter against Rs 369 crore in a year-ago quarter, as per Zee Business research.
While the company’s revenue is seen growing by 18 per cent YoY to Rs 4,211 crore in Q3FY23 as compared to Rs 3,575 crore in the three-month period of the last fiscal, Zee Business research said.
Amid easing input costs, the margins – a key profitability metric – of Britannia Industries may surge by 100 basis points to 16 per cent from 15 per cent YoY in Q3FY23, according to Zee Business research estimates.
The domestic volumes of FMCG major are expected to grow by 5-6 per cent during the December quarter and company to get benefit from growing market share, Zee Business research noted.
Britannia share price history
Britannia shares have reported decent gains of around 21 per cent in the last one year and it was up almost 15 per cent in the last six months. In January 2023, the counter has surged around 3 per cent and was up 0.6 per cent in the last five days period.
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10:37 AM IST