Britannia Industries shares slump over 7% after Q2 earnings

New Delhi: Shares of foods product company Britannia Industries Ltd on Tuesday slumped more than 7 per cent after the firm reported a 9.36 per cent fall in consolidated net profit in the September 2024 quarter.

The stock tanked 7.32 per cent to settle at Rs 5,028.25 apiece on the BSE. Intra-day, it cracked 7.76 per cent to Rs 5,004.

On the NSE, shares of the firm tumbled 7.29 per cent to Rs 5,038 each.

Britannia Industries Ltd on Monday reported a decline of 9.36 per cent in consolidated net profit to Rs 531.55 crore in the second quarter ended September 2024 on account of tepid consumer demand due to rising commodity inflation.

The company had posted a net profit of Rs 586.5 crore in the July-September quarter a year ago, according to a regulatory filing from Britannia Industries.

The company's revenue from the sale of products rose 4.47 per cent to Rs 4,566.23 crore in the latest September quarter.

Its revenue from operations grew 5.29 per cent to Rs 4,667.57 crore during the reporting quarter. It stood at Rs 4,432.88 crore in the corresponding quarter a year ago.

Total expenses of Britannia Industries, which owns popular brands such as Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, increased 8.4 per cent to Rs 3,994.87 crore during the latest September quarter.