Pantaloon Retail, a subsidiary of India's Future Group, has reported a 51% jump in third quarter net profits, driven by a substantial increase in sales.

The Indian retailer said that net profit increased to INR5.1bn (US$1.1bn) during the three months to 31 December.

Income from operations rose 25.4%, to INR191.3bn, while paid-up equity share capital increased by almost 30%, the company said.

Pantaloon operates hypermarket chain Big Bazaar and supermarket chain Food Bazaar, which were recently spun-off into a separate food retail unit.