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Britannia net profit surges 37 pc to Rs 396 million; 1:2 bonus issue announced

Biscuit and dairy-maker Britannia Industries Limited today declared a bonus issue of one share for every two held as its net profits surged by 37 per cent to Rs 396 million.

The company had made Rs 289 million profit last year.

Sales in 1998-99 were at Rs 1.03 billion, up 21.6 per cent from Rs 8.48 billion a year ago, the company statement.

The company proposes to pay its shareholders a dividend of Rs 5.5 for every Rs 10 face value share held, it said.

The company's interest payments increased to Rs 66 million from Rs 49 million last year and its depreciation moved up to Rs 159 million compared to Rs 118 million last year.

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