Home Economy Nestle India quarterly net profit up 26.7 percent

Nestle India quarterly net profit up 26.7 percent


New Delhi: Fast moving consumer goods (FMCG) firm Nestle India Thursday posted a 26.7 percent rise in its net profit for the quarter ended March 31, which stood at at Rs.255.7 crore as against Rs.201.8 during the like period of last year.

The net sales for the quarter under review stood at Rs.1,809.9 crore, 23.3 percent higher than the same period of 2010.

While domestic sales increased by 23.1 percent on account of volumes and selling prices, exports grew by 10.2 percent.

“We have maintained the momentum, achieving double digit profitable growth for the 17th consecutive quarter. This is even more significant considering the unprecedented cost pressures and more specifically, the volatile commodity prices,” Nestle India chairman and managing director Antonio Helio Waszyk said.

“While we continue to invest for the future, particularly in manufacturing capacity and our brands, our people have addressed the challenges by accelerating innovation as well as ensuring appropriate balance between savings from Nestle, continuous excellence and pricing,” he added.

At the Bombay Stock Exchange, the shares of the company closed up 2.18 percent at Rs.3,828.70 Thursday.