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Britannia Industries net profit falls by 37% on higher costs

Biscuits maker Britannia Industries Ltd reported a 37% drop in standalone operating profit and net profit as higher prices of commodities like sugar, wheat and milk have led to higher costs. Edible oil prices, which were ruling softer compared to a year ago period, too are seeing an increase. Inflation seems to have hit demand for its products too, as overall revenues (including other operating income) grew by just 8% during the quarter. Continue Reading →

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