Shares of Britannia Industries Ltd’s reached record highs on Wednesday after the company reported better than expected profits for the March quarter.
Consolidated net profit of the maker of Good Day biscuits came in at ₹372 crore versus ₹322 crore that a Bloomberg poll of analysts was expecting.
However, management commentary on how April and May has panned out is the more heartening bit. Britannia has said revenue growth for April and May has been 20% and 28%, respectively, over the corresponding months last year.
With more people staying at home due to the covid-19 lockdown, in-home food consumption has spiked and Britannia has benefitted from this.