Sales rose from Rs 286.6 crore to Rs 332 crore during the period. "Corporate sales during the three months improved by 16 per cent through a satisfactory performance, both in our core bakery business and dairy operations," Britannia Industries managing director Sunil K Alagh said in a statement.

"Biscuit volumes are up by 16 per cent. Our recently launched Vita MarieGold and Nutrichoice Good Morning are both doing well,'' Alagh added.

Profit before taxation at Rs 21.1 crore shot up by 30 per cent over the corresponding quarter last year. Earnings per share (pre-bonus) have improved by 27 per cent from Rs 5.71 to Rs 7.25.

The Britannia Industries scrip which opened at Rs 640.50 on Monday on the Bombay Stock Exchange, fell by Rs 1.05 to close at 639.45.

While Britannia has a large presence in the biscuits market (biscuits contribute around 70 per cent to the company's turnover), the company has slowly expanded its reach in the dairy business with the launch of flavoured milk, butter and ghee under the "Milk Man" umbrella.

"The new Milkman cheese spread and Milkman ghee have received instant consumer acceptance," the company has said. The dairy business, which currently contributes around 20 per cent to the company's turnover, is expected to double in size over the next three years, feel analysts.

According to Alag, the company's latest consumer promotion``Britannia Khao, Cricketer Ban Jao''has received good consumer response across the nation. "The new product will further consolidate the range along with other innovative products in the offing in the near future."