Britannia Industries Ltd announced its financial results for the second quarter of FY24 on November 1, revealing a 19.55% surge in consolidated net profit to reach ₹586.50 crore, compared to the previous year's figure of ₹490.58 crore.
The company also reported a 1.21% increase in total revenue from operations, reaching ₹4,432.88 crore, compared to ₹4,379.61 crore in the corresponding quarter a year ago.
#2QWithCNBCTV18 | Britannia's Q2 earnings increase on a YoY basis pic.twitter.com/kcGUm76u4H
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Additionally, Britannia showcased its robust financial performance through an impressive operating margin, as its earnings before interest, depreciation, taxes, and amortisation (EBIDTA) soared to ₹872.4 crore in the September 2023 quarter. This represented an increase of 22.5% when compared to the ₹711.7 crore reported during the same period the previous year.
Despite the positive financial results, the company did face a slight rise in the costs of materials consumed, which increased by 1.6% to ₹2,282.58 crore during the July-September quarter, up from ₹2,245.94 crore in the same quarter the prior year.
On November 1, Britannia shares settled at ₹4,397.30 on the National Stock Exchange (NSE), which was up ₹29.20 or 0.66% lower than the previous day's close.
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