Britannia Industries Ltd. on Thursday informed the exchanges about the resignation of Rajneet Singh Kohli, executive director and chief executive officer of the company.
Rajneet Singh Kohli submitted his resignation on March 5 to pursue an opportunity outside Britannia, according to an exchange filing on Thursday. The company will relieve Kohli from the service during the closing hours of the business on March 14.
Rajneet Singh Kohli joined the Executive Leadership and Board of Britannia as the executive director and chief executive officer on Sept. 26, 2022.
"Rajneet Singh Kohli has decided to resign from the services of the company to pursue an external opportunity," said Varun Berry, executive vice-chairman and managing director of Britannia Industries.
"We thank him for the contribution during his tenure as the chief executive officer and member of the Britannia board and wish him the best in his future endeavours," he added.
Britannia Industries net profit rose to Rs 582 crore, representing 4.6% growth for the third quarter of the current fiscal 2025 as compared to Rs 556 crore for the same period last year.
The biscuit maker's revenue surged by 7.9% to Rs 4,593 crore for the quarter under review as against Rs 4,256 crore for the year-ago period.
The company's earnings before interest, tax, depreciation and amortisation soared to Rs 845 crore, denoting a 2.9% rise for the quarter ended December from Rs 821 crore for the same period in the previous fiscal 2024.
Its margins narrowed to 18.4% for the October-December quarter from 19.3% for the same period last year.
Shares of Britannia Industries closed 0.42% lower at Rs 4,702.55 apiece on the NSE, compared to a 0.93% higher in the benchmark Nifty. The stock has fallen 3.65% in the last 12 months.
Out of 36 analysts tracking the company, 22 suggest 'buy,' six recommend 'sell,' and 10 suggest 'hold,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 13%.
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