Britannia’s profit drops 9% due to weak demand

BENGALURU: Britannia Industries’ net profit declined 9.4% to Rs 531.5 crore during the Sept quarter even as revenue rose 4.5% to Rs 4,566 crore during the same period. The management signalled a tepid consumer demand scenario in major consumer goods categories in the country. Britannia’s share price fell almost 6% to Rs 5,425 apiece on the stock exchanges ahead of the biscuit maker’s quarterly earnings announcement on Monday.
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