Britannia Industries Profit Declines 3.3% In March Quarter, Stock Edges Lower

Britannia Share Price: On Wednesday, Britannia opened on the BSE at Rs 3,487, touching an intra day high of Rs 3,540 and an intra day low of Rs 3,470, in the session so far.

Share price of Britannia Industries slipped around two per cent on Wednesday, April 28, a day after the country's leading biscuit manufacturer reported its March quarter results for the financial year 2020-21. On Wednesday, Britannia opened on the BSE at Rs 3,487, touching an intra day high of Rs 3,540 and an intra day low of Rs 3,470, in the trading session so far. According to a regulatory filing by the company to the BSE, Britannia reported consolidated profit of ₹ 360 crore in the January-March quarter of fiscal 2020-21, registering a 3.3 per cent decline in profit year-on-year, compared to ₹ 372 crore in the year-ago period. (Also Read: Britannia Industries Profit Declines 3.3% To ₹ 360 Crore In March Quarter ) According to the statement, Britannia Industries' consolidated revenue from operations stood at Rs 3,130.7 crore in the fourth quarter of the financial year 2020-21. The operating performance of the company for the quarter was lower than the estimates of analysts. Britannia's total revenue from operations registered a growth of 9.2 per cent year-on-year in the January-March quarter, compared to ₹ 2,867.70 crore in the corresponding period of the previous fiscal. The company's commodity cost front reported growth as palm oil, dairy products reported steep increases, which helped in managing the rise in costs, during the quarter.