Mumbai, July 24 - Britannia Industries Ltd. , India's top biscuit maker, said on Tuesday its quarterly net profit rose 19 percent, but cautioned pressure from high prices of raw materials would persist
Britannia, controlled through equal indirect stakes by French food company Danone and India's Wadia Group, said net profit in the fiscal first quarter to end-June rose to 361 million rupees ($9 million) from 303 million a year earlier.
It said net sales rose 19 percent to 5.77 billion rupees.
Raw material costs climbed by a fifth from a year earlier.
"The unprecedented increase in commodities like wheat, dairy products etc. that started last year, is likely to continue in the current year, as well," Britannia said in a statement.
There has been growing speculation Danone may exit Britannia because the French firm is keen on independent operations in the fast-growing Indian market.