Biscuit major Britannia Industries saw consolidated third-quarter profit for FY26 rise 17% year-on-year to Rs 680 crore, driven by an uptick in consumption on the back of GST-led price cuts.
The number was in line with street estimates of Rs 666 crore for the period. Consolidated sales for the quarter stood at Rs 4,970 crore, up 8.2% versus last year and in line with street estimates of Rs 4,985 crore for the period.
Operating performance remained firm during the quarter, coming ahead of street estimates of Rs 951 crore for the period.
Consolidated EBITDA
Earnings before interest tax depreciation and amortisation (Ebitda) increased 16% year-on-year to Rs 980 crore from Rs 845 crore reported last year. While Ebitda margin expanded to 19.7% from 18.4% seen a year ago, reflecting cost discipline, sector analysts said.
The Q3 earnings came amid a top-level rejig at the firm during the quarter when executive vice-chairman, MD and CEO of the company Varun Berry exited to make way for Rakshit Hargave. The latter moved from Birla Opus, taking over as MD & CEO of Britannia on December 15.
What did Hargave say?
On Tuesday, Hargave said the faster growth in profits compared with revenue reflected a return to healthier growth trends, driven by strong momentum across both the biscuits business and adjacent categories. He added that the biscuit industry continues to stabilise on price points following the GST rate reduction.
The company recorded sales growth of around 12% during November and December, reflecting buoyancy in demand in the aftermath of the GST rate cuts.
Hargave said growth was supported by sustained investments in media to strengthen brand visibility and portfolio expansion through new launches, including the 50-50 Dipped range, ‘Veg’ cake variants and ‘Doodh’ Marie Gold.
Looking ahead, he said the company remained focused on building the Britannia brand through higher brand investments and localised product innovations tailored towards diverse consumer preferences.