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Bangalore, Jan. 28 Britannia Industries Ltd has posted a 176 per cent increase in net profit to Rs 45.4 crore during the third quarter of 2007-08 because of higher price realisation.

A press statement from the company said net sales grew 15.64 per cent to Rs 656.40 crore during the same period. “Britannia sustained its profit recovery, improving operating margins by 440 basis points for the quarter and 370 basis points for the nine months ended December 31, 2007,” the statement said.

Britannia’s Managing Director, Ms Vinita Bali, said the company was able to achieve a growth of almost 16 per cent in the quarter compared with the industry growth of 12 per cent. “The 440 basis points improvement in margins was possible due to higher price realisation and continued focus on operational efficiencies. Investment in advertising and sales promotion increased by 70 per cent to support our brand building initiatives,” Ms Bali said.

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