June 4 :    June 4:  Britannia Industries Ltd has registered a 188.2 per cent jump in net profit at Rs 203.2 crore in the last financial year from Rs 70.5 crore. Net sales was up 9 per cent to Rs 1,451 crore during the reporting period as against Rs 1,332.5 crore in the previous fiscal. The board has recommended 75 per cent dividend subject to shareholders' approval. The company is focussing on topline growth by driving volumes of existing products and launch of variants. 'Maska Chaska continues to do well. We have recently launched a new Tiger variant (Chai Biskoot) with favourable initial consumer response,' managing director S.K. Alagh said in a statement. The existing dairy business has been transferred to Britannia New Zealand Foods Pvt Ltd, a joint venture company with Fonterra Co-operative Group. BoB net zooms Bank of Baroda (BoB) today announced a 98.8 per cent growth in net profit at Rs 545.93 crores in 2001-02 and targets 50 per cent growth this fiscal. The bank has declared a dividend of 40 per cent. The higher profit was on account of Rs 300 crore appreciation in the value of government papers in the bank's portfolio, BoB chairman P.S. Shenoy told newspersons after a board meeting. The bank is targeting 50 per cent growth in net profit and a business growth of 25 per cent this fiscal, he said. BoB's gross profit grew by over 26 per cent to Rs 1,309.26 crore in the last fiscal and the total income was up by 7.5 per cent to Rs 6,948.71 crores. 'The bank is poised for a quantum leap this fiscal and the years to come. We are hopeful that in 2002-03, we will be able to reach Rs 1,25,000 crore business, which is a growth of 25 per cent,' Shenoy said, adding the bank's deposits and advances (total business) were at Rs 98,000 crore last fiscal. BoB's total deposits grew by 14 per cent to Rs 61,800 crore and advances by over 22 per cent to around Rs 36,200 crore in the last fiscal. Its capital adequacy ratio stood at 11.32 per cent in 2001-02 compared with 12.8 per cent in the previous fiscal, but higher than the RBI-stipulated 9 per cent. The bank's net non-performing asset ratio declined to 5.06 per cent in 2001-02, as against 6.77 per cent in 2000-01. It is exploring a rights issue for raising additional capital and increasing its capital adequacy ratio to 15 per cent in two to three years. 'We may go for a public offer if the bank's value perception improves. Although the bank's CAR is 2.3 per cent above the RBI-stipulated 9 per cent, our desired goal is to attain a car of 15 per cent,' Shenoy said. The public offer would be through a rights issue, he said, but declined to give figures. It is also planning for an ADR or GDR issue after two to three years to dilute the government equity, official sources said.