Britannia Ind shares gain 5 pc after robust Q2 earnings

Shares of Britannia Industries on Wednesday jumped almost 5 percent after the company posted a 32.90 percent rise in consolidated net profit for the quarter ended September. At the close of trade, the scrip moved up 4.94 percent to close at Rs 3,270.25 on the BSE. During the day, it jumped 5.86 percent to Rs 3,299.

At the NSE, it gained 4.84 percent to close at Rs 3,270.75. The food company on Monday posted 32.90 percent increase in consolidated net profit to Rs 402.73 crore for the quarter ended September 30, 2019.

The company had reported a net profit of Rs 303.03 crore for the July-September period a year ago, Britannia Industries said in a BSE filing. Net sales were up 5.88 percent to Rs 3,022.91 crore during the quarter under review as against Rs 2,854.81 crore of the corresponding quarter previous fiscal.

Equity markets were closed on Tuesday on account of Guru Nanak Jayanti.