Britannia Industries Q2 net profit dips 9.4% y-o-y

12 Nov 2024 , 01:26 PM

Britannia Industries Ltd reported a 9.4% year-on-year (YoY) decline in net profit to ₹531.6 Crore for the second quarter ending September 30, 2024.

In the preceding fiscal quarter, Britannia Industries reported a net profit of ₹586.5 Crore, according to a regulatory filing.

The company’s income from operations climbed 5.3% to ₹4,667.6 Crore from ₹4,433 Crore last year. 

EBITDA decreased by 10.2% to ₹783.4 Crore in the second quarter of this fiscal year, from ₹872.4 Crore in Q2 of FY24. The EBITDA margin was 16.8% in the reporting quarter, down from 19.7% in the same period last fiscal year. 

In the September quarter, Britannia recorded consolidated sales of ₹4,566 Crore, representing a 4.5% YoY rise. Consolidated sales increased 10.6% quarter over quarter, while profit after tax increased 5.1%.

For the six-month period ended September 30, 2024, consolidated sales increased by 4.3%, although profit after tax fell by 0.8% compared to the previous year.

Varun Berry, Vice Chairman & Managing Director, stated that an 8% volume growth with a sequential improvement in revenue and operating profitability are satisfactory results in the face of significant commodity inflation and weak consumer demand in most FMCG categories.

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