India Inc has emerged leaner from its big crisis
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Black ink is in corporate demand. A Mint assessment of nearly 2,500 listed companies has revealed that their net profit in the third quarter of 2020-21 expanded by 72%, year-on-year. This is the fastest pace in at least 25 quarters and about twice the pep of the preceding quarter ended 30 September. The review left out some sectors like hydrocarbons and financial services, as they follow a different revenue model, but its findings offer us a fairly representative view of how our relatively large businesses have fared as they emerged from the covid lockdown of this fiscal year’s first quarter. Both sales and profits had crashed during those three grim months. The added-up bottom line figures of our sample bounced back in the ‘unlock’ quarter thereafter, even as their topline stayed flat. The latest quarter’s results make for a mix of jubilation and relief. Not only is the profit curve sharpl
Britannia Industries total revenue from operations rose 6.13 per cent to Rs 3,165.61 crore
Britannia Industries shares slipped 1 per cent on the BSE after the bakery products and biscuit maker reported a 22.4 per cent rise in consolidated net profit at Rs 452.6 crore for the third quarter ended December 2020. At 10:00 am, the shares of Britannia Industries were trading at Rs 3,505.10, down 1 per cent, on the BSE.
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Britannia Industries total revenue from operations rose 6.13 per cent to Rs 3,165.61 crore during the quarter under review against Rs 2,982.68 crore in the year-ago period, the company said on February 5.
The BSE Sensex was trading at 51,370.55, higher by 623 points or 1.22 per cent and the NSE Nifty was at 15,101.95, up 178 points or 0.18 per cent at the time.