Britannia Industries may witness over 50% rise in net profit for Q1 FY24; Check details 

Fast-moving consumer goods(FMCG) major Britannia Industries will be announcing its results for the quarter ended June 2023 (Q1 FY24). On the back of healthy rise in demand, and lowering inflation, the company is expected to witness commendable earnings. Brokerages have predicted that Britannia Industries' net profit is expected to jump by over 50 per cent, and consolidated revenue, by more than 11 per cent.

Over the year, the demand environment for the FMCG sector remained stable. While the urban market continues to lead growth, the rural market is also showing signs of improvement in demand both sequentially and yearly.

Analysts' expectations

As per average estimates of various analysts predictions, Britannia Industries' Q1 FY24 revenue is expected to rise 11.45 per cent YoY to Rs 4,125 crore. This will be led by an estimated 5 per cent volume growth.

The easing of food inflation during Q1 FY24 when compared with the same period a year ago is expected to benefit the operating performance of the company. Earnings before interest, taxes, depreciation and amortization or EBITDA in the quarter ended June is likely to jump by 57 per cent to Rs 786 crore.

Motilal Oswal Financial Securities has predicted that Britannia will post 7 per cent growth in the base business during the quarter under review. According to Yes Securities, Britannia’s base business volumes is likely to grow by 3 per cent in Q1FY24. This along with double-digit realization in standalone business, should lead to a consolidated revenue growth of 10 per cent YoY.

HDFC Securities expect Britannia Industries to witness a moderate 10 per cent YoY revenue growth with a volume growth of 5 per cent YoY.