Britannia posts Q1 profit below estimates on higher expenses
Britannia’s net profit was ₹ 258 crore ($37.57 million) in the quarter ended 30 June, compared with ₹ 216 crore reported a year ago
Bengaluru: Good Day biscuits maker Britannia Industries Ltd reported quarterly profit below analysts’ estimates on Monday, hurt by subdued growth in the dairy business and an increase in expenses. Net profit was ₹ 258 crore ($37.57 million) in the quarter ended 30 June, compared with ₹ 216 crore reported a year ago. Analysts on average had expected a profit of 2.69 billion rupees, according to Thomson Reuters I/B/E/S.
Total expenses rose 7.2% to ₹ 2,193 crore.
Britannia shares were up 0.71% in afternoon trade, while the NSE index was 0.46% higher.
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