Indian food manufacturer Britannia Industries has said it has maintained its growth trajectory in an “intensely competitive market”, as it recorded a 24% increase in third-quarter profits.

The biscuit and cereal manufacturer said yesterday (9 February) that net profit reached INR373m, up 23.8% on the year, which it attributed to improved efficiency and sales.

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Operating profit increased 46% to INR475m. Net sales rose 22.5% to INR10.8bn.

“The company has maintained its growth trajectory in an intensely competitive market and continued to drive innovation in the industry,” said managing director Vinita Bali.

“Britannia continues to focus on cost reduction and driving consumer up-take to generate profitable growth.”

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