Note ban takes a toll on Britannia’s Q4 profit, sales

BENGALURU: Britannia Industries Ltd’s fourth-quarter revenue and profit missed analyst estimates as the biscuit maker continued to feel the impact of demonetization on sales. Britannia’s profit grew 5.96% to ₹210.91 crore from a year ago in the quarter to March 31. Revenue rose 5.59% to ₹2,349.63 crore. Analysts surveyed by Bloomberg had expected the company would post a profit of ₹217.5 crore on revenue of ₹2,351.2 crore.