britannia share price, investors scramble to buy shares, stocks hit record highs after quarterly report, should you invest? – Britannia share surges 10 percent to record high, enters rs 1 lakh crore club on q2 beat
Strong increase in income
Shares of Britannia Industries rose about 9 percent in one month and recorded 6 months gain of 26.84 percent. At the same time, the stock has gained 11 percent over the past year. Also Britannia’s consolidated net profit for the September quarter grew by 29 per cent year-on-year and the company’s consolidated net profit for the September 2022 quarter stood at Rs 490 crore.
Not only this, the company’s business has grown for 38 consecutive quarters and its market share has reached a 15-year record high. The company posted a consolidated revenue of Rs 4379.61 crore, up 21 percent year-on-year (YOY) from operations. This was the highest for any quarter so far. EBITDA rose 27.5 percent year-on-year to Rs 717.7 crore in the September quarter.
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More growth is expected in the share
Shares of Britannia Industries Limited were bullish on Monday. Shares of the company are increasing up to 10%. Shares of Britannia touched a 52-week high of Rs 4189.95 in early trade. Yash Britannia’s market cap rose to Rs 1 lakh crore. Britannia’s shares have been rallying after strong September quarter results.
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Besides, many brokerages are bullish on the stock after the September 2022 quarter results. Nomura Financial Advisory & Securities (India) reported that the broking firm has raised its earnings per share (EPS) estimates for the second quarter. The stock has been rated ‘Buy’ given its good volume and margin outlook for FY23-25. In such a situation investors can invest money in this share.
(Note: Consult a financial advisor before investing in the stock market)
