Britannia Industries’ net profit soars 8% in early trade

NEW DELHI: Britannia Industries has soared by more than 8% in early trades after its net jumped by 55% to Rs 167 crore in Q4.

The stock is trading at Rs 2471, higher by Rs 186 or 8.1%, on the BSE. The shares had opened at Rs 2391 and have touched a high of Rs 2556 and a low of Rs 2381thus far.

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Britannia Industries reported a 55% rise in consolidated net profit at Rs 167 crore for the fourth quarter ended March 2015 against Rs 108 crore in the corresponding quarter last year.

The consolidated revenue grew 14.3% to Rs 2,032 crore and operating profit during the quarter under review went up 38.7% to Rs 204 crore against Rs 147 crore in the year-ago quarter.

Meanwhile, the Board of Directors recommended a dividend of 800% (Rs 16 per share) for the year 2014-15.

Britannia Industries manufactures biscuits, bread, rusk, cakes and dairy products.