- Britannia Industries Ltd reported a 40% decrease in its consolidated net profit for the quarter ended December 31, 2023.
- The net profit amounted to Rs 556 crore compared to Rs 932 crore in the same period last year.
- Analysts’ expectations were not met, with a poll of six brokerages predicting a net profit of Rs 566 crore.
- Sequentially, Britannia’s profit slipped 5% from Rs 587 crore.
- Factors contributing to the muted growth include a high base effect, some price cuts, high competition, and low single-digit volume growth.
Subscribe To Our Free Newsletter |