AgenciesShares of India's rose as much as 10% on Monday, after the Good Day and Tiger biscuits maker reported late Friday a 28.4% jump in second-quarter consolidated net profit.
The company's profit was 4.93 billion rupees ($59.97 million) for the three months ended on Sept. 30, beating analysts' expectations for a profit of 4.12 billion rupees, according to Refinitiv IBES data.
Total revenue from operations rose 21.4% to 43.8 billion rupees from 36.07 billion rupees a year ago.
Britannia's beat comes after peers reported rise in profit, while posted lower profit hit by high commodity prices.
India's food inflation, which accounts for nearly 40% of the consumer price index (CPI) basket, rose 8.60% in September, compared to 7.62% in August. Recently, the government extended curbs on sugar exports by one year until October 2023 to contain a rise in domestic prices following record exports.
However, palm oil prices, a key ingredient in the fast-moving consumer goods or FMCG sector, have come down significantly from their all-time high touched in March, following Indonesia's decision to suspend export levies in July because of a build up of stocks.
shares were the top gainer in the NSE Nifty 50 index.
The company's profit was 4.93 billion rupees ($59.97 million) for the three months ended on Sept. 30, beating analysts' expectations for a profit of 4.12 billion rupees, according to Refinitiv IBES data.
Total revenue from operations rose 21.4% to 43.8 billion rupees from 36.07 billion rupees a year ago.
Britannia's beat comes after peers reported rise in profit, while posted lower profit hit by high commodity prices.
India's food inflation, which accounts for nearly 40% of the consumer price index (CPI) basket, rose 8.60% in September, compared to 7.62% in August. Recently, the government extended curbs on sugar exports by one year until October 2023 to contain a rise in domestic prices following record exports.
However, palm oil prices, a key ingredient in the fast-moving consumer goods or FMCG sector, have come down significantly from their all-time high touched in March, following Indonesia's decision to suspend export levies in July because of a build up of stocks.
shares were the top gainer in the NSE Nifty 50 index.
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