Britannia races to the top of Nifty 50 ahead of Q3 earnings
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The Good Day biscuit maker’s consolidated net profit is expected to grow 32 percent YoY during the December quarter on the back of an 18 percent rise in revenue.
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Fast-moving consumer goods major Britannia Industries was the top performer on Nifty 50 in the early hours of trade on the Budget day, rising nearly 3 percent ahead of its quarterly earnings to be declared later today. At 9:52am, shares of the company traded at Rs 4,415.1, up 2.3 percent, on the BSE.
In the past three months alone, the stock has given over 16 percent returns, while in the past one year, it has been up only over 20 percent.
The Good Day biscuit maker’s consolidated net profit is expected to grow 32 percent on-year during the December quarter on the back of an 18 percent rise in revenue. An average of estimates by five brokerages polled by Moneycontrol, has pegged the revenue at Rs 4,220 crore and net profit at Rs 492 crore for the third quarter of FY23.
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