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Mumbai, Oct. 23 Higher sales and better price realisation enabled biscuit major Britannia Industries to report a 128 per cent jump in second quarter net profit to Rs 48.5 crore (Rs 21.2 crore). Net sales increased by 19.8 per cent to Rs 658.8 crore (Rs 549.7 crore).

Total income rose 20 per cent to Rs 664.6 crore (Rs 552.4 crore).

According to the company, growth in revenue and profit were driven by higher price realisation, better mix, volume growth and cost management.

Operating profit has doubled to Rs 64.1 crore (Rs 31.5 crore). Basic and diluted EPS was higher at Rs 20.28 (Rs 8.87). Net profit margin increased to 7.36 per cent (3.86 per cent).

The Wadia group company and French dairy foods company Danone are equal partners in Britannia and currently embroiled in a Singapore court case over intellectual property rights of the Tiger brand of biscuits.

The shares of the company on Tuesday closed at Rs 1,405.10, up 0.34 per cent, from the previous day’s close of Rs 1,400.35.

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