Britannia Industries Q3 results: Net profit increases 5% to Rs 582 cr

Indian biscuit maker Britannia Industries beat third-quarter profit estimates on Thursday, as price hikes helped it counter the impact of a rise in commodity prices. 

The company, which sells 'Jim Jam' and 'NutriChoice' biscuits, reported a 5 per cent increase in consolidated net profit to Rs 582 crore ($66.43 million) for the three months ended December 31.   

Analysts, on average, had expected a profit of Rs 521 crore, according to estimates compiled by LSEG. 

Consumer staple companies such as Britannia, Hindustan Unilever and Nestle India have had to contend with inflation in key commodities such as palm oil, cocoa and sugar. 

As a result, the companies raised prices modestly to maintain margins. 

Its revenue for the quarter rose 8 per cent to Rs 4,593 crore. 

Overall expenses rose 9 per cent to Rs 3,875 crore.   

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