Britannia Industries gained 2.44% at Rs 2,535 amid bargain hunting after a recent slide.
Shares of Britannia Industries dropped 4.59% in the past two trading sessions to settle at Rs 2,474.55 yesterday, 30 March 2020 from its close of Rs 2,593.70 on Thursday, 26 March 2020.
Meanwhile, Britannia Industries informed that in view of the COVID-19 pandemic, the company has taken various measures (including work from home) to ensure safety and well-being of all the employees and is ensuring compliance with the directives issued by the central government, state government and local administration in this regard.
The company manufactures food products which are considered as essential commodities for the consumers. However, due to lock down ordered by the Government of India across the country to contain the spread of COVID-19, the operations of the company have also been disrupted.
While ensuring that all necessary steps are being taken to minimize the risk to the employees and distribution channels, the company is working with the authorities to restore operations of factories, depots and distribution centres to ensure continuous supply of products to consumers.
The impact on the business operations of the company due to the disruptions is difficult to assess at this point in time, the company said in a statement after trading hours yesterday, 30 March 2020.
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Britannia Industries' consolidated net profit jumped 23.92% to Rs 372.63 crore on a 3.84% rise in net sales to Rs 2,935.98 crore in Q3 December 2019 over Q3 December 2018.
Britannia Industries (BIL) is one of India's leading food companies. The company's product portfolio includes biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk and yoghurt. BIL has a presence in more than 60 countries across the globe.
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