Britannia's FY25 June qtr consolidated profit grows to Rs 506 cr
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.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
BCCI upset with Mohsin Naqvi for taking away Asia Cup trophy and medals with him, set to launch protest
Operation Sindoor on games field, India wins: PM Modi jibes Pak in congratulatory message for his country
Suryakumar Yadav donates Asia Cup match fees to Armed Forces and Pahalgam terror attack victims' families
US: Michigan church attack leaves four dead, gunman shot down
