Britannia Industries soared more than 7 per cent to hit 52-week high on the BSE this morning after the FMCG company reported a consolidated profit of Rs 374.75 crore in the fourth quarter ended March 2020, registering a growth of 26.1 per cent on a year-on-year basis. The shares had zoomed 7.36 per cent to touch an intra-day high of Rs 3,704.55 in early trades and at 10:50 am, the shares were trading at Rs 3631, higher by 181 points or 5.2 per cent, on the BSE.
The maker of popular Good Day and Tiger biscuit brands also posted a 2.5 per cent jump in revenues from operations at Rs 2,867.70 crore in the quarter under consideration as against Rs 2,798.96 crore in the year-ago period.
Britannia said that it has swiftly adopted to the changing landscape in pandemic times by ramping up production despite labour shortages and optimising its production planning.
The Sensex traded 510.81 points – or 1.51 per cent – higher at 34,336.34 while the Nifty was up 154.75 points – or 1.55 per cent – at 10,133.85.