Indian food manufacturer Britannia Industries has recorded a jump in profits in the first quarter of its financial year.

For the three months to the end of June, net profit climbed 27.3% to INR41.8m (US$929m), the firm said on Friday (5 August).

The company’s net sales surged 21% to INR1.11bn during the quarter, which ended on 30 June.

Britannia launched its Vita Marie Honey Oats in major cities Chennai, Bangalore, Delhi and Mumbai last month and confirmed plans to set up a bakery and an R&D centre on the outskirts of Bangalore.