Leading Indian biscuit maker Britannia Industries has reported a net profit for the third quarter of INR454m (US$11.5m), up from INR164m in the third quarter of the previous fiscal year.

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Revenues for the quarter to the end of December increased from INR5.7bn to INR6.6bn.


French food group Danone and its estranged joint-venture partner, the Wadia Group, are equal partners in Associated Biscuits International Holding which holds a 50.96% stake in Britannia.


Last week, Wadia quashed reports in the Indian press that Danone was set to sell its stake in the venture to two Wadia subsidiaries – Kalabakan Investments and Bombay Burmah Trading.


A spokesperson for Wadia said the reports were “factually incorrect” but disclosed that the two sides were in discussions.

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