Britannia Inds tumbles after announcing Q4 results

Britannia Industries slumped 5.58% to Rs 2,770 at 9:28 IST on BSE after consolidated net profit rose 13.7% to Rs 190.23 crore on 7.8% growth in net sales to Rs 2189.83 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours on Friday, 20 May 2016.

Meanwhile, the S&P BSE Sensex was up 123.36 points or 0.49% at 25,425.26.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 15,000 shares in the past two weeks. The stock hit a high of Rs 2,880 and a low of Rs 2,703.40 so far during the day. The stock had hit a 52-week low of Rs 2,381.75 on 22 May 2015. The stock had hit a 52-week high of Rs 3,435 on 13 August 2015.

Britannia Industries' revenue growth during the quarter was impacted due to phasing out of excise duty incentives available to the company.

Britannia Industries makes biscuits, bread, rusk, cakes and dairy products like cheese, butter and milk.

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