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Britannia Industries total revenue from operations rose 6.13 per cent to Rs 3,165.61 crore
Britannia Industries shares slipped 1 per cent on the BSE after the bakery products and biscuit maker reported a 22.4 per cent rise in consolidated net profit at Rs 452.6 crore for the third quarter ended December 2020. At 10:00 am, the shares of Britannia Industries were trading at Rs 3,505.10, down 1 per cent, on the BSE.
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Britannia Industries total revenue from operations rose 6.13 per cent to Rs 3,165.61 crore during the quarter under review against Rs 2,982.68 crore in the year-ago period, the company said on February 5.
The BSE Sensex was trading at 51,370.55, higher by 623 points or 1.22 per cent and the NSE Nifty was at 15,101.95, up 178 points or 0.18 per cent at the time.
As India gets on its feet amid ease in Covid-19-induced restrictions, and out-of-home consumption picks up, FMCG firm Britannia Industries’ bottom-line earnings may come under pressure owing to weaker sales on a quarterly basis, and increase in input costs. “While Q3FY21 performance is likely to show signs of recovery led by sustained rural demand and gradual pickup in urban demand post unlock and normalization of supply chain, we believe margins for select players will start correcting QoQ given rising commodity costs and comeback of ad spends, marketing and overhead expenses,” say analysts at Prabhudas Lilladher. That said, sustained rural demand due to better rural economics driven by a strong kharif and rabi seasons, analysts at Sharekhan believe an over 9 per cent sales’ volume growth may support Britannia’s overall Q3 show.
ETMarkets Morning Podcast (ETMarkets.com)
06:26 Min | January 07, 2021, 8:56 AM IST
Here s a head up to some of the news we are tracking at this hour. Tune in!
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Transcript
Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. FPIs continue to bet big on financials Fed officials favour continued bond buying Tata Sons tender Rs 10,000 cr shares in TCS buyback
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And there is more. But first, a quick glance at the state of the markets.. Nifty futures on the Singapore Exchange traded flat at 7:40 am (IST), signalling indecisiveness on Dalal Street.
The stock, which has been trading in a range for the last six months, recently crossed its 200-day moving average (DMA) of Rs 3,485. On Wednesday, it ended 0.5 per cent down at Rs 3,540. When a stock crosses its 200-DMA, it is said to be in a bull trend.