Britannia Industries Ltd.'s consolidated net profit fell 9% in the second quarter of the current financial year, missing analysts' estimates.
The biscuit maker posted a profit of Rs 531.6 crore in the quarter ended September, according to an exchange filing on Monday. Analysts tracked by Bloomberg had a consensus estimate of Rs 630 crore.
Britannia Q2 FY25 Earnings Highlights (Consolidated, YoY)
Revenue up 5.3% to Rs 4,667.6 crore versus Rs 4,432.9 crore (Bloomberg estimate: Rs 4,769 crore).
Net profit down 9% to Rs 531.6 crore versus Rs 586.5 crore (Estimate: Rs 630.4 crore).
Ebitda down 10% to Rs 783.4 crore versus Rs 872.4 crore (Estimate: Rs 894.6 crore).
Margin narrows to 16.8% versus 19.7% (Estimate: 18.80%).
Britannia witnessed 8% volume growth in an otherwise subdued quarter.
Commenting on the performance, Mr. Varun Berry, Vice Chairman & Managing Director, said: “A ~8% volume growth with a sequential increase in revenue and operating profits are satisfactory results in the face of severe commodity inflation leading to a tepid consumer demand scenario in most FMCG categories."
The quarter witnessed a rise in prices of key commodities such as wheat, palm, cocoa, etc., which has led to a margin dip of 290 basis points.
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