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MUMBAI: Britannia Industries Ltd has reported a 9.5 per cent drop in its second quarter net profit at Rs 43.8 crore against Rs 48.5 crore in the year-ago period.

The company said the decline in net profit was because the year-ago period's profits included sale of long-term investment to the tune of Rs 3.6 crore.

Its sales increased to Rs 470.8 crore from Rs 434.6 crore in the year-ago period. Operating income moved up to Rs 59.5 crore (Rs 52.20 crore).

Total income increased to Rs 468.4 crore (Rs 448.7 crore). Shares of Britannia edged down Rs 2.55 to Rs 1,160.05 on the BSE on Friday.

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