INSUBCONTINENT EXCLUSIVE:
Britannia Industries' second quarter earnings witnessed a fall due to bad operating performanceBakery products maker Britannia Industries'
net earnings for September duration of the current fiscal taped a 22.9 percent year-on-year fall due to poor operating efficiency on greater
input costs.The business's combined earnings was up to Rs 381.8 crore in the second quarter of 2021-22 from Rs 495.2 crore recorded in the
corresponding period of last year
Throughout the quarter, the impact of the 2nd wave of Covid-19 began declining, and the financial activity started picking up
Inflationary trends remained rampant around the world, throughout sectors, said Britannia's managing director Varun Berry.Referring to the
expense front, he stated that the international economy continued to witness supply-led constraints throughout different input products,
As an outcome, we are seeing unmatched inflation in market value of palm oil at 54 per cent, industrial fuel at 35 per cent and packaging
materials at 30 percent resulting in a total inflation in the quarter of around 14 percent, he stated.
