New Delhi, Jun 3 (PTI) Shares of Britannia Industries on Wednesday trimmed most of its early gains on profit-booking and closed nearly 2 per cent higher.

During the morning trade, it gained over 7 per cent after the company posted a 26.53 per cent increase in consolidated net profit for March 2020 quarter.  

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On the BSE, the stock which jumped 7.36 per cent to Rs 3,704.55--52-week high--during the day, later gave up most of the early gains on fag-end selling and closed at Rs 3,510.25, up 1.74 per cent.

It settled at Rs 3,511, up 1.73 per cent, on the NSE. Intra-day, it advanced 7.44 per cent to its 52-week high of Rs 3,708.

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FMCG player Britannia Industries on Tuesday posted a 26.53 per cent increase in consolidated net profit at Rs 372.35 crore for the fourth quarter ended on March 31, 2020.

The company had reported a net profit of Rs 294.27 crore in January-March quarter of 2018-19.

Total revenue from operations rose to Rs 2,867.70 crore during the quarter under review as compared with Rs 2,798.96 crore in the fourth quarter of 2018-19, Britannia Industries said in a regulatory filing.

For the financial year 2019-20, the company posted a net profit of Rs 1,393.60 crore, up 20.6 per cent from Rs 1,155.46 crore in 2018-19.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)