Britannia, the Indian food manufacturer, is likely to report dull net profits for the December quarter, analysts forecast.
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Sales of Tiger biscuits are showing signs of market maturity, with growth inching up 5-6% compared with double-digit figures last year, said Rajesh Kothari, an FMCG analyst with Khandwala Securities.
Renewed impetus for growth could come from fledgling brand Maska-Chaska, however, although analysts say it is too soon to ascertain to what extent the new brand will drive overall volumes.
According to a poll of seven brokerages conducted by the Business Line, Britannia’s third quarter profit is likely to be in the range of Rs 20.8 to 21.2 crore (US$4.3-4.4m) over sales of Rs358.3 to Rs359 crore. The firm reported a net profit of Rs25.3 crore over sales of Rs350 crore in the September quarter.
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By GlobalData
