Shares of Britannia Industries slumped nearly 8 per cent in early trade today despite the company reporting a 13.7 per cent increase in its consolidated net profit at Rs 190.2 crore for the March quarter.
Opening on a weak note, the stock further went down 7.84 per cent to Rs 2,703.40 on BSE.
On NSE, it declined 7.70 per cent to Rs 2,705.
The company had posted a net profit of Rs 167.3 crore in the same period of the previous fiscal.
Britannia's net sales rose to Rs 2,189.8 crore during the quarter, up 7.8 per cent, from Rs 2,031.8 crore in the year-ago period, Britannia Industries had said in a BSE filing.
For the entire 2015-16, the company's net profit stood at Rs 806.1 crore as against Rs 688.6 crore in the year-ago period.
Net sales during 2015-16 grew to Rs 8,607.1 crore, from Rs 7,775.1 crore a year earlier.
