In the past two occasions, Britannia share price more-than-doubled after the stock tested its super trend line support on the monthly scale. Will history repeat itself? Chart check here
Britannia Industries shares slipped 3 per cent in trade and registered an intraday low of Rs 4,748.15 per share
Higher inflation and lower purchasing by consumers, it seems, has taken a bite out of consumption-related stocks at the bourses, with most counters losing ground in the last few months
The company reported a 9.6 per cent decline in net profit, which stood at Rs 531.5 crore in the July-September quarter compared to the same period last year
Britannia reported its Q2FY25 results on Monday, after market hours. PAT declined by 9.6 per cent to Rs 531 crore
The biscuit major's profit before interest, tax, and depreciation was down 10.6 per cent at Rs 825.9 crore
The company, which sells Jim Jam and NutriChoice biscuits, reported a consolidated net profit of Rs 531 crore ($62.95 million) for the three months ended Sept. 30
Q2 company results, November 11: Shree Cements, Jubilant FoodWorks, Bank of India, NMDC, and Ramco Cements will release their Q2FY25 results today
In the past one month, the FMCG index has tanked nearly 11 per cent, as against 6 per cent decline in the BSE Sensex.
Varun Berry and Cecile Beliot discuss capturing a larger share of the cheese market in India
According to Nielsen, the consumer sector grew 4% Y-o-Y in Q1FY25, down from 6.6% in Q4FY24. Pricing saw a marginal increase of approximately 0.2 per cent, while volumes rose 3.8% Y-o-Y.
Unless there is a sharp upside surprise in terms of volumes, or some unusual gains in margins
The company has increased its rural distribution and now has up to 30,000 rural distributors
Revenue rises due to better operating margins
Analysts, on average, had expected a profit of 5.36 billion rupees, according to data from LSEG
FMCG major Britannia Industries Ltd said all permanent workers at its Taratala factory in Kolkata have accepted the voluntary retirement scheme (VRS). Despite this significant workforce change, a company official claimed that there would be no material impact on the business operations of Britannia Industries. However, according to senior CITU leader Gautam Ray, production has been stopped at the plant. "There has been no production at the Taratala plant for over 20 days. All 122 permanent employees have accepted VRS, and negotiations are ongoing for 250 contractual workers," said senior CITU leader Gautam Ray. Britannia did not respond to PTI's queries on stopping the production. The Taratala plant, one of Britannia's oldest biscuit manufacturing units, has been operational for over seven decades. According to sources, the Britannia management offered Rs 13 lakh to employees with up to 5 years and 11 months of remaining job tenure, Rs 18.5 lakh for employees with 6 to 10 years o