Better prospects ahead

The Britannia Industries stock, which has been an out-performer over the last one year, has been inching down in the last fortnight and a half due to a 50 per cent year-on-year drop in net profits in the June quarter. With food inflation ruling high, an increase in marketing costs and uptick in interest costs affected profitability. Despite this, higher volumes aided steady revenue growth at 24 per cent year-on-year.

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