Britannia Industries Sees a Decline Despite Revenue Growth
Britannia Industries Ltd faced a tough quarter as its shares fell by over 7% following a 9.36% drop in net profit for September 2024. Despite rising revenue, higher expenses linked to commodity inflation led to reduced consumer demand, impacting profits.
- Country:
- India
Britannia Industries Ltd faced a challenging market on Tuesday as its shares plummeted more than 7% after the company disclosed a 9.36% decline in consolidated net profit for the September 2024 quarter.
The stock closed at Rs 5,028.25 on the BSE, down 7.32%, and recorded an intra-day low of Rs 5,004. On the NSE, it fell by 7.29% to Rs 5,038.
Despite a 4.47% rise in product revenue to Rs 4,566.23 crore, operating expenses increased by 8.4% to Rs 3,994.87 crore, leading to weakened consumer demand amid climbing commodity prices.
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