Britannia Industries’ market capitalization dropped by $2 billion (over ₹16,600 crore) within just two days following its Q2 earnings report.
The decline in share value came after the company's quarterly net profit fell short of market expectations, coming in at ₹653 crore. This was despite a 2% year-over-year increase in revenue, reaching ₹4,400 crore. Investors were disappointed as Britannia faced higher raw material costs, impacting profitability.