Top Gainer Today: Britannia share surges 8% after recording highest quarterly revenue – Check brokerages price targets

Britannia share price: After recording the highest quarterly revenue, Britannia shares on Monday jumped more than eight per cent on both the indices. Britannia was also amongst the top gainers in the early trade. 

As of 10:15 am, the stock has rallied by more than 8 per cent. On NSE, the stock was trading in green and quoted at Rs 4,131.60 apiece which was up by 8.61 per cent and on BSE, the stock was trading at Rs 4,133 per share which was up by 8.73 per cent.

Except for Nomura, brokerages have not shown much enthusiasm for Britannia results  

Britannia Q2 Results   

Bakery foods company Britannia Industries Ltd has released its Quarterly report month ending September on Friday. The company recorded a 28.47 per cent increase in consolidated net profit at Rs 490.58 crore for the second quarter ended September 30, 2022, helped by volume growth.

The company had posted a net profit of Rs 381.84 crore in the July-September quarter a year ago, Britannia Industries said in a BSE filing.

Britannia's total revenue from operations climbed 21.40 per cent to Rs 4,379.61 crore from Rs 3,607.37 crore in Q2 FY22.

The company has recorded its "highest quarterly revenue", Britannia Industries said. Total expenses were at Rs 3,773.71 crore in the second quarter of FY23, up 20.25 per cent from Rs 3,138.15 crore in the year-ago period.

Britannia Managing Director Varun Berry said, "We have witnessed positive growth momentum over the last few months. Our Go-to-market strategy and increase in distribution reach have converged to deliver a robust topline growth of 22 per cent YoY and 19 per cent QoQ, aided by a mid-single digit volume growth, as we record our highest quarterly revenue."

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