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Bangalore Jan 29 Britannia Industries has posted 54 per cent decline in third-quarter net profit to Rs 16.4 crore.

A release said that though the topline recorded 31.4 per cent growth to Rs 567.3 crore during the same period, "unprecedented and inordinate inflation in all inputs" resulted in lower net profit.

The price rise of nearly 40 per cent in diary products and 15-20 per cent in key raw materials like wheat and edible oils impacted the margins.

"The company's strategy is to drive accelerated growth through power brands and innovation," said Managing Director Ms Vinita Bali.

"We have grown the biscuit portfolio by 24 per cent and bread, cake and rusk by 47 per cent. We are concluding the acquisition of a leading West Asian bakery business as part of our inorganic growth strategy."

In addition to continued focus on cost effectiveness and operating efficiencies, Britannia introduced several high-margin and differentiated brands in December.

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