Riding on several new products and increased investments in brands, biscuits major Britannia Industries has posted a 17.4 per cent increase in net profit at Rs 47.37 crore for the first quarter ended June 30, 2009.
The company had a net profit of Rs 40.33 crore in the first quarter ended June 30, 2008, Britannia Industries said in a statement.
"In an intensely competitive market, we significantly increased our investment behind brands and maintained operating margin," Britannia Industries Managing Director Vinita Bali said.
Britannia had launched several new and renovated brands, including NutriChoice Nature Spice Cracker and MarieGold.
During the quarter under consideration, the company's net sales were up by 5.46 per cent at Rs 731.24 crore as against the same period last financial year.
The company had net sales of Rs 693.36 crore in the first quarter of the last fiscal.
"Invigorated focus on working capital management also contributed to cash from operations of over Rs 175 crore during the quarter," she added.