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Britannia Industries’ second quarter profit witnessed a fall due to poor operating performanceBakery products maker Britannia Industries’ net profit for September period of the current fiscal recorded a 22.9 per cent year-on-year fall due to poor operating performance on higher input costs.The company’s consolidated profit fell 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.”During the quarter, the impact of the second wave of Covid-19 started receding, and the economic activity started picking up. However, inflationary trends remained rampant around the globe, across sectors,” said Britannia’s managing director Varun Berry.Referring to the cost front, he said that the global economy continued to witness supply-led constraints across various input materials, fuelling inflation.”As a result, we are witnessing unprecedented inflation in market prices of palm oil at 54 per cent, industrial fuel at 35 per cent and packaging materials at 30 percent leading to an overall inflation in the quarter of around 14 percent,” he said.



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