January 22, 2025 07:02 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
At least two Maoists are eliminated by security forces every day: Centre | New US Secretary of State Marco Rubio to hold first bilateral talk with S Jaishankar | Saif Ali Khan is back home, waves at fans after hospital discharge | 66 killed as fire engulfs hotel at a ski resort in Turkey | At least 14 Maoists killed in encounter along Odisha-Chhattisgarh border, Amit Shah says 'mighty blow to Naxalism' | Donald Trump pulls US out of Paris agreement in a repeat of his 2017 move | Donald Trump signs executive order to withdraw US from WHO, hours after reclaiming presidency | Donald Trump sworn in as 47th president of United States | Kolkata court sentences convict Sanjoy Roy to life imprisonment in RG Kar rape-murder case | Supreme Court stays proceedings against Rahul Gandhi in defamation case over remarks against Amit Shah and BJP
Photo Courtesy: Wikimedia Commons

Britannia's FY25 June qtr consolidated profit grows to Rs 506 cr

| @indiablooms | Aug 03, 2024, at 04:32 am

Mumbai: Britannia Industries reported quarterly earnings below market expectations on Friday, as branded consumer goods makers face stiff competition from smaller rivals offering cheaper alternatives, Reuters reported.

Britannia, known for its Jim Jam and NutriChoice biscuits, reported a consolidated net profit of Rs 506 crore ($60.44 million) for the first quarter ended June 30, up from Rs 458 crore a year earlier.

Analysts, on average, had expected a profit of Rs 536 crore, the report said, citing data from LSEG.

Regional consumer goods makers in India are leveraging easing commodity prices to challenge branded rivals like Hindustan Unilever and Britannia, prompting them to reduce prices to maintain market share.

For Britannia, this strategy was insufficient to fully counter the competition.

Britannia's revenue grew by 6% to Rs 425 crore during the quarter, a slowdown from the over 8% growth in the same quarter the previous year.

Total expenses increased by 4.5%, with Managing Director Varun Berry noting that Britannia "is vigilant of the commodity price fluctuations." Consumer goods makers have reported mixed results.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu