Britannia posts 3% decline in March quarter profit to Rs 364 crore

Britannia Industries on Tuesday reported a drop in net profit after seven quarters, owing to higher input costs and the second wave.
 
Consolidated net profit saw a near-3 per cent year-on-year (YoY) decline to Rs 364.3 crore for the three months ended March 31 (Q4), missing consensus estimates by a wide margin.
 
A poll by Bloomberg analysts had pegged Britannia’s Q4 net profit at Rs 416.9 crore.
 
Besides rising input costs, the company also pointed to a brief shutdown in March to implement key digital projects that impacted its bottom line.
 

Consolidated revenue, which