Britannia Industries said that a board meeting is scheduled to be held on Monday, 17 August 2020, to consider the proposal of borrowing of funds through issuance of Commercial Paper.
The announcement was made after market hours yesterday, 12 August 2020. Shares of Britannia Industries fell 1.78% to settle at Rs 3,810 yesterday.
In a separate announcement, the company said it has allotted Commercial Papers for an aggregate amount of Rs 300 crore on 12 August 2020, with tenure of 12 months.
The FMCG major's consolidated net profit surged 117.38% to Rs 545.70 crore on 26.98% rise in total income to Rs 3,514.45 crore in Q1 June 2020 over Q1 June 2019.
Britannia Industries 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.
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