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Biscuit maker Britannia rises on margins surprise
![IndiaTimes]()
Thursday, 2 November 2023
Shares in Britannia Industries climbed as much as 3.9% on Thursday, a day after reporting quarterly earnings above market expectations the biscuits maker kept a tight lid on costs amid easing commodities prices. It has been focusing more on reducing product damages during transport, ensuring trucks are more fully loaded and setting up new plants. For the second quarter ended September 30, Britannia's gross margin was at 42.9%, up from 41.9% in the first quarter and 38.9% a year earlier, according to LSEG data.
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Thursday, 2 November 2023
