Britannia Shares Slump Over 7% As Food Product Company Reports 9.36% Drop in Net Profit in Q2 Earnings

New Delhi, November 12: Shares of foods product company Britannia Industries Ltd on Tuesday slumped more than 7 per cent after the firm reported a 9.36 per cent fall in consolidated net profit in the September 2024 quarter. The stock tanked 7.32 per cent to settle at Rs 5,028.25 apiece on the BSE. Intra-day, it cracked 7.76 per cent to Rs 5,004.

On the NSE, shares of the firm tumbled 7.29 per cent to Rs 5,038 each.

Britannia Industries Ltd on Monday reported a decline of 9.36 per cent in consolidated net profit to Rs 531.55 crore in the second quarter ended September 2024 on account of tepid consumer demand due to rising commodity inflation. Gautam Adani Hosts Ambassadors From EU, Belgium, Denmark and Germany, Discusses India’s Energy Transition.

The company had posted a net profit of Rs 586.5 crore in the July-September quarter a year ago, according to a regulatory filing from Britannia Industries.

The company's revenue from the sale of products rose 4.47 per cent to Rs 4,566.23 crore in the latest September quarter. JioStar: Reliance Jio and Disney+ Hotstar Merger To Be Officially Finalised by November 13 With Domain Name ’JioStar.com”, Say Reports.

Its revenue from operations grew 5.29 per cent to Rs 4,667.57 crore during the reporting quarter. It stood at Rs 4,432.88 crore in the corresponding quarter a year ago. Total expenses of Britannia Industries, which owns popular brands such as Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, increased 8.4 per cent to Rs 3,994.87 crore during the latest September quarter.

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