Britannia Q1 Results: Profit rises 14% to Rs 591 crore, misses estimates as Iran war pushes costs higher
India's Britannia Industries reported first-quarter profit below market expectations on Thursday, as higher expenses linked to the Middle East conflict overshadowed stronger demand for its packaged foods.Consolidated profit rose 14% to 5.91 billion rupees (Rs 591 crore) for the quarter ended June 30. Analysts, on average, had expected a profit of 6.05 billion rupees, according to data compiled by LSEG.The U.S.-Israel war on Iran has saddled corporations worldwide with higher energy, freight and commodity costs, squeezing margins and prompting price increases for everythin