Britannia Industries Ltd is up for a third straight session in a row. The stock is quoting at Rs 3086.6, up 1.03% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.17% on the day, quoting at 12058.6. The Sensex is at 40925.5, up 0.26%. Britannia Industries Ltd has dropped around 7.93% in last one month.

Meanwhile, Nifty FMCG index of which Britannia Industries Ltd is a constituent, has dropped around 2.57% in last one month and is currently quoting at 31055.35, up 0.24% on the day. The volume in the stock stood at 1.07 lakh shares today, compared to the daily average of 4.69 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 3096.1, up 1.1% on the day. Britannia Industries Ltd is up 3.55% in last one year as compared to a 12.39% spurt in NIFTY and a 4.88% spurt in the Nifty FMCG index.

The PE of the stock is 55.81 based on TTM earnings ending September 19.

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Britannia Industries Ltd fell for a fifth straight session today. The stock is quoting at Rs 3107.4, down 0.42% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.69% on the day, quoting at 12022.1. The Sensex is at 40743.13, up 0.68%.Britannia Industries Ltd has eased around 4.33% in last one month.Meanwhile, Nifty FMCG index of which Britannia Industries Ltd is a constituent, has eased around 2.01% in last one month and is currently quoting at 30972.95, up 0.16% on the day. The volume in the stock stood at 3.73 lakh shares today, compared to the daily average of 4.43 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 3113.45, down 0.54% on the day. Britannia Industries Ltd jumped 3.5% in last one year as compared to a 13.42% rally in NIFTY and a 5.56% spurt in the Nifty FMCG index.

The PE of the stock is 57.03 based on TTM earnings ending September 19.

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The scrip has traded in the range of Rs 3218 and Rs 3299 so far during the day. The trading volume for the scrip was 3.5 times its two week average of 8917 shares as nearly 32,000 shares were traded in the counter.

The biscuit maker's total revenue from operations in Q2 September 2019 stood at Rs 3048.84 crore, up by 6.25% from Rs 2869.59 crore the company clocked in the year ago period. Sequentially, revenues of the firm have risen by 12.91% from Rs 2700.35 crore in Q1 June 2019. The result was announced after market hours on Monday, 11 November 2019.

The company's total expenditure rose by 6.64% to Rs 2617.64 crore in Q2 FY20 from Rs 2454.58 crore in Q2 FY19. Total cost of raw materials consumed, which represented nearly 60% of the total expenses of the firm, increased by 8.43% to Rs 1559.95 crore in Q2 September 2019 as compared to the corresponding quarter in the last fiscal.

The company elected to exercise the option permitted under Section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the company has recognised Provision for Income tax for the six months ended 30 September 2019 and re-measured its deferred tax assets basis the rate prescribed in the said section. The full impact of this change has been recognised in the current quarter, the company said.

The firm's total tax expenses fell by 38.73% to Rs 95.51 crore in Q2 September 2019 from Rs 155.89 crore in Q2 September 2018.

Commenting on the performance, Varun Berry, managing director, said: We continued to grow faster than the market with a sequential revenue growth of 13%. In the base business, we continued our Premiumisation & Innovation journey with the launch of limited edition 'Treat Cream biscuits' & 'Little Hearts Strawberry'. During this phase of sluggish demand, we continued to invest in enhancing our brand equity through focused product campaigns.

On the cost front, we witnessed moderate inflation in the prices of key raw materials for the bakery business while there was an inordinate increase in milk prices which impacted our dairy business. We, however, accelerated the drive on cost efficiencies & leveraged fixed costs which helped us improve the shape of our business and deliver highest ever operating profits in the quarter, Berry added.

Britannia Industries (BIL) is one of India's leading food companies. Britannia's product portfolio includes biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk and yoghurt. BIL has a presence in more than 60 countries across the globe.

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Net profit of Britannia Industries rose 33.42% to Rs 404.22 crore in the quarter ended September 2019 as against Rs 302.97 crore during the previous quarter ended September 2018. Sales rose 5.89% to Rs 3022.91 crore in the quarter ended September 2019 as against Rs 2854.81 crore during the previous quarter ended September 2018.

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