NEW DELHI: Bakery food giant Britannia Industries on Thursday reported a 13.24% fall in its consolidated net profit to Rs 335.74 crore in the June quarter of FY23 on inflationary headwinds.
It had posted a net profit of Rs 387.01 crore in the year-ago period. Britannia’s total revenue from operations rose 8.74% to Rs 3,700.96 crore during the quarter as against Rs 3,403.46 crore in the year-ago period.
Its EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter fell 10% to Rs 501 crore in the quarter under review as against an EBITDA of Rs 554 crore during the corresponding period last year.
Varun Berry, Managing Director, said on the cost & profitability front, global factors continued to impact the economy, which led to a further surge in inflation during the quarter.