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Bangalore, July 29 Britannia Industries Ltd reported an 11.6 per cent increase in its net profit at Rs 40.3 crore for the quarter ended June 30, 2008 compared with Rs 36.1 crore for the corresponding period last fiscal.

The biscuit and bakery major’s sales grew 20.2 per cent to Rs 693.3 crore during the quarter against Rs 692 crore for the same period last year. Total income, which included 79 crore as other income, increased to Rs 701.2 crore, a rise of 9.3 per cent from the same quarter in the previous year. The company also incurred a Voluntary Retirement Scheme outgo of Rs 5.5 crore during the quarter against Rs 31 crore in the previous year’s first quarter.

Ms Vinita Bali, Managing Director, said, “The company has maintained its growth momentum and operating margin in a highly inflationary and competitive market. Investments behind our brands increased significantly with a sharper focus on key brands with the launch of ‘Good Day Classic’, and Tiger with Iron-Zor and NutriChoice 5 Grain.

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