Net sales of the company jumped 21.49 per cent to Rs 1030.10 crore during the year against Rs 847.80 crore in 1997-98. Gross profit jumped by 35.53 per cent to Rs 80.10 crore from Rs 59.10 crore last year while total expenditure increased to Rs 963.10 crore from Rs 800 crore.

Interest payment during the year, however, increased to Rs 6.60 crore from Rs 4.90 crore while provision for depreciation was higher at Rs 15.90 crore against Rs 11.80 crore in 1997-98. The company has made a provision of Rs 18 crore for taxation against rs 13.50 crore last year. Analysts expect the company to post better margins in the current fiscal. Thefull impact of initiatives taken in the dairy business, including the launch of flavoured milk, will come in the current fiscal and improve margins. Analysts said that product innovation will be a key driver for growth.

The share price of Britannia Industries at the BSE closed at Rs 1,330, which was lower as compared to its previous close of Rs 1,432. The company has incurred a capital expenditure of Rs 21.8 crore as part of its ongoing industrial restructuring plan.