Britannia Industries reported a 40.4% decline in consolidated net profit for Q3 FY24, reaching Rs 555.66 crore, compared to Rs 932.40 crore in the same period last year. Net sales grew 2.2% to Rs 4,191.83 crore.
New Delhi, Feb 6 (PTI) Bakery food company Britannia Industries Ltd on Tuesday reported a 40.4 per cent decline in consolidated net profit at Rs 555.66 crore for the third quarter ended December 2023.
The company had posted a net profit of Rs 932.40 crore in the October-December quarter a year ago, Britannia Industries said in a BSE filing.
Its net sales during the third quarter of the current fiscal grew 2.2 per cent to Rs 4,191.83 crore. It was at Rs 4,101.49 crore in the year-ago period.
The net profit base in the year-ago quarter was higher as the company had gains on sale of 49 per cent equity stake held in Britannia Dairy Private to French cheese maker Bel SA.
The company's profit before exceptional items and tax was at Rs 761.13 crore, which was 1.62 per cent down from Rs 773.71 crore of the December quarter of FY23.
Its revenue from operations in the December quarter was at Rs 4,256.33 crore, up 1.41 per cent.
Total expenses of Britannia Industries, which owns popular brands such as Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, was up 1.98 per cent to Rs 3,544.42 crore in the December quarter.
Its total income was at Rs 4,306.89 crore, up 1.4 per cent in the December quarter of FY23.
Shares of Britannia Industries Ltd on Tuesday settled 2.24 per cent lower at Rs 5,006.20 apiece on the BSE.
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