Biscuit manufacturer Britannia Industries Limited has declared a final dividend of ₹ 56.50 per share on 2nd May 2022. This is about 5650% of its face value of ₹1 per share. The shares will start trading ex-dividend on 20th June 2022.
The company posted a 4.26% increase in its net profit from ₹364.32 crores during the March quarter in 2021 to ₹ 379.87 crores in the March quarter this year. Its consolidated net sales jumped 15% to ₹3508 crores and its operating profits grew by 10% to ₹378 crores.
“In this quarter, we delivered a robust top-line growth of 15 per cent and a mid-single-digit volume growth which demonstrates the resilience of our brands and a reflection of our execution strengths across divisions & channels.” – Varun Berry, Managing Director.
The company’s profit before taxes stood at ₹ 518.91 crores for the March quarter this year. This is a 5.3% hike as compared to ₹ 492.65 crores during the corresponding quarter last year.
Its Income from the sales of goods increased by 15.47% to ₹ 3,508.35 crores in the March quarter of 2022. A year ago in Q4 2021, its income from sales stood at ₹ 3,038.13 crores despite the rise in operational costs, raw materials and inflation due to geopolitical factors.
Britannia Industries has marginally exceeded expectations, taking key factors like cost margins into consideration. Share prices of the company have increased by 9% after declaring Q4 earnings for the year.
