Mrs Bectors Food Specialities reports 86% growth for Q3 | Business Upturn

Mrs Bectors Food Specialities reports 86% growth for Q3


Mrs Bectors Food Specialities has reported 86 per cent growth in its profit after tax at 21 crore for December quarter from 11 crore in Q3 FY20.

It posted 11 per cent growth in revenues at 226 crore in Q3 FY21 from 203 crore in the same period of previous fiscal. Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 40 per cent to 40 crore from 28 crore.

For the tenure ended December 2020, the net profit was up by 180 per cent to 60 crore from 21 crore in the corresponding period of previous fiscal. Revenues totalled 657 crore from 568 crore, up 16 per cent, with EBITDA rising by 66 per cent to 112 crore from 67 crore.

The company witnessed double-digit growth in its biscuits segment backed by strong demand in both domestic as well as exports market. The branded bread and bakery products also saw an increased level of demand with the change in dietary habits and lifestyle behaviours during COVID-19.

“The festivals helped to create a positive sentiment among consumers across India despite COVID-19 during the last quarter. The company witnessed a strong volume uptick for its products across all categories, especially in the premium category. There has been a significant increase in the price realisations too,” said Managing Director Anoop Bector.

Biscuits and bakery products maker Mrs Bectors Food Specialities had made a strong debut on the BSE and NSE as its shares had listed at a massive 74 per cent premium over its issue price in December 2020, after stellar subscription to its IPO in the same month.