Mrs. Bectors Food Specialities reported 4.6% fall in consolidated net profit to Rs 12.73 crore despite a 32.9% rise in net sales to Rs 300.77 crore in Q1 FY23 over Q1 FY22.
Total expenditure increased by 36.7% YoY to Rs 269.67 crore during the quarter, primarily due to higher raw material costs (up 32.9% YoY), higher employee expenses (up 13.6% YoY) and higher other expenses (up 67.6% YoY).
Profit before tax in Q1 FY23 stood at Rs 17.17 crore, down by 4.2% from Rs 17.93 crore in Q1 FY22.
Mrs. Bectors Food Specialities manufactures biscuits and bakery products that are marketed under Mrs. Bector's Cremica and Mrs. Bector's English Oven brands, respectively. The company operates in the consumer segment through its network of distributors and retailers, besides supplying to export markets and catering to institutional customers.
The scrip shed 0.38% to currently trade at Rs 342.65 on the BSE.
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