Britannia Halts Capex Plans Amid Weak Consumer Demand

Biscuit giant Britannia Industries has announced a pause in its capital expenditure plans for the next financial year due to subdued volume growth and weak urban demand. The company, known for brands like Bourbon and Pure Magic, will limit its capex to Rs 150-200 crore. To offset rising commodity costs, Britannia plans to increase product prices by 6.5% over the next six months. Despite these challenges, the company reported a 4.8% sequential increase in Q3 consolidated net profit to Rs 582 crore.

Source: Business Standard