Britannia, the Indian food manufacturer, is likely to report dull net profits for the December quarter, analysts forecast.

Sales of Tiger biscuits are showing signs of market maturity, with growth inching up 5-6% compared with double-digit figures last year, said Rajesh Kothari, an FMCG analyst with Khandwala Securities.

Renewed impetus for growth could come from fledgling brand Maska-Chaska, however, although analysts say it is too soon to ascertain to what extent the new brand will drive overall volumes.

According to a poll of seven brokerages conducted by the Business Line, Britannia’s third quarter profit is likely to be in the range of Rs 20.8 to 21.2 crore (US$4.3-4.4m) over sales of Rs358.3 to Rs359 crore. The firm reported a net profit of Rs25.3 crore over sales of Rs350 crore in the September quarter.