Britannia's stocks are munching away to glory at the Markets today. Know why

Shares of Britannia Industries Ltd., a top biscuit maker, surged to fresh highs after the company reported its sharp rise in its earnings that beat street's expectations.

Britannia said its first quarter Net Profit rose 12 percent to 190 crore rupees compared with 170 crore rupees in the same quarter a year ago. Sales during April-June jumped 13 percent to 2,018 crore rupees from 1,787 crore rupees in the year ago period. The company's operating margin surged 520 bps to 12.93 percent.

Britannia rose 3.2 percent, or 99 rupees, to 3,235 rupees, a record high on the National Stock Exchange, where 5.14 shares were traded by 11:52 am compared with the 5-day average of 2.40 lakh shares.

Britannia's market capitalisation has jumped 187 percent in the past one year to 38,590 crore rupees as investors latched into strong brand franchisees which benefit from falling input prices of wheat and vegetable oils.

Image credit: Indiatimes