Britannia Q3FY25 results: FMCG major beats Street estimates but margin shrinks

Britannia declared its third quarter results for the financial year 2024-25, with FMCG major’s net profit coming in at ₹582.3 crore, beating a CNBC-TV18 poll estimate of ₹534 crore on the back of price hikes to offset higher input costs. It reflects a 4.8% YoY growth compared to ₹555.6 crore in Q3 FY24.

#3QWithCNBCTV18 | Britannia reports #Q3 earnings
Here’s how the actual numbers compare with the CNBC-TV18 poll ????

Net Profit At ₹582.3 Cr Vs CNBC-TV18 Poll Of ₹534 Cr

Revenue At ₹4,592.6 Cr Vs CNBC-TV18 Poll Of ₹4,502 Cr

EBITDA At ₹844.9 Cr Vs CNBC-TV18 Poll Of ₹780 Cr… pic.twitter.com/eMUVAKc75C

— CNBC-TV18 (@CNBCTV18Live) February 6, 2025

The cookies maker, which sells ‘Tiger’, ‘Jim Jam’ and ‘NutriChoice’ biscuits, among others, reported Q3 revenue of ₹4,592.6 crore, ahead of the CNBC-TV18 poll forecast of ₹4,502 crore and representing a 7.9% YoY increase from ₹4,256.3 crore in Q3 FY24.

The FMCG firm reported an EBITDA of ₹844.9 crore, beating the CNBC-TV18 poll estimate of ₹780 crore, showing a 2.9% YoY growth from ₹821.1 crore in the same quarter last year. The EBITDA margin stood at 18.4%, slightly down from 19.3% YoY.

Britannia achieved domestic volume growth of 4-5%, in line with the CNBC-TV18 poll estimate.

Commenting on the results, Vice Chairman & Managing Director Varun Berry said: “Despite the ongoing subdued demand across FMCG categories and increased competitive pressures, we achieved a strong performance, with both value and volume growing about 6% each on a year-on-year basis.”

The inflation on key input materials of wheat, palm oil, cocoa, etc. remains on an upward trajectory, which we mitigated through judicious price increases, focused brand investments and fixed cost leverage, helping us sustain operating margins while maintaining competitiveness, he said.

“Our adjacent businesses such as Dairy Drinks, Croissant and Wafers witnessed double-digit growths,” said Berry.

Britannia Industries shares on Thursday settled at ₹4,958.95 apiece on BSE, up 0.56% from its previous close.