Shares of Britannia Industries gained over 3 per cent in morning deals on Monday (May 6) and touched the day's high at Rs 4,959 apiece. The stock rose after the bakery food company reported its Q4 results on Friday after market hours.

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At around 9:37 a.m., shares of Britannia rose 2.84 per cent or Rs 134.55 at Rs 4,879.7 apiece. The market capitalisation of the company at around the same time stood at Rs 1,17,876.13 crore.

Britannia Industries registered a 3.76 per cent decline in consolidated net profit at Rs 536.61 crore for the fourth quarter that ended March 2024.

The company had posted a net profit of Rs 557.60 crore in the January-March quarter a year ago, according to a regulatory filing by Britannia Industries.

Its revenue from operations in the March quarter was Rs 4,069.36 crore, up 1.14 per cent. It was Rs 4,023.18 crore in the corresponding period a year ago.

The total expenses of Britannia Industries, which owns popular brands such as Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, increased 1.98 per cent to Rs 3,388.28 crore in the March quarter.

Britannia Industries' total income rose 1.15 per cent to Rs 4,126.70 crore in the March quarter of FY24.

For the entire FY24, Britannia Industries' net profit fell 7.76 per cent to Rs 2,134.22 crore. It was Rs 2,316.32 crore a year ago.

Its total income in FY24 advanced 2.82 per cent to Rs 16,983.45 crore.

Britannia dividend 

Meanwhile, in a separate filing, Britannia Industries informed that its board in a meeting held on Friday has recommended Rs 73.5 per equity share of Re 1 each as the final dividend for the financial year ended March 31, 2024.

Should you buy, sell, or hold? 

CLSA maintained an 'outperform' rating on the stock and gave a target of Rs 5,636 apiece. Morgan Stanley also maintained an 'overweight' rating and gave a target of Rs 5,243 apiece. 

Similarly, Macquarie maintained 'neutral' and gave a target of Rs 4,500 apiece. 

Britannia share price: Past performance 

In a year, shares of Britannia have risen over 2 per cent against Nifty50's rise of over 23 per cent.

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