Britannia Q2 net down 23% due to rising palm oil, fuel prices

The company's cost of materials increased 8% from Rs 1,768 crore in Q2FY21 to Rs 1,915 crore in the corresponding quarter of FY22

Britannia’s net profit, attributable to the shareholders of the company, plunged 23 per cent to Rs 384 crore in the quarter ended September, compared to Rs 498 crore in the year-ago period as inflation pushed up the prices of palm oil, industrial fuel and packaging.

The company’s cost of materials increased 8 per cent from Rs 1,768 crore in the September quarter last year to Rs 1,915 crore in the corresponding quarter of FY22.

The FMCG major’s sales, however, rose 6 per cent to Rs 3,554 crore in Q2 from Rs 3,352 crore in the same period last year. The