India's Britannia Industries tumbles on Q2 earnings miss

Britannia Industries

12/11/2024 04:02

** Britannia Industries  BRIT.NS  slides as much as 4.1% to
5,213 rupees, lowest since June 4
    ** Stock top loser on Nifty 50 index  .NSEI , which is up
0.2%
    ** Biscuits maker posts smaller-than-expected Q2 profit,
hurt by weaker demand for consumer goods, particularly in urban
areas
    ** Rev up 5% to 46.68 bln rupees ($553 mln), but below
market estimate of 47.39 bln rupees - LSEG
    ** Stock rated "buy" on avg; median PT is 5,800 rupees
    ** Day's drop trims YTD gains to 0.2%

($1 = 84.3930 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))