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Britannia Industries fiscal Q1 profit climbs 23.7% YOY

Britannia Industries Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 8.26 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 8.36 rupees per share.

EPS rose 23.4% year over year from 6.69 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 989.8 million rupees, an increase of 23.7% from 800.5 million rupees in the year-earlier period.

The normalized profit margin climbed to 5.6% from 5.2% in the year-earlier period.

Total revenue climbed 15.1% on an annual basis to 17.73 billion rupees from 15.40 billion rupees, and total operating expenses climbed 15.0% from the prior-year period to 16.35 billion rupees from 14.21 billion rupees.

Reported net income rose 27.0% from the prior-year period to 1.14 billion rupees, or 9.48 rupees per share, from 894.9 million rupees, or 7.48 rupees per share.

As of Aug. 12, US$1 was equivalent to 61.08 Indian rupees.