Nestle India Q3 net profit rises 19.5 per cent to over Rs261 crore
05 Nov 2011
Nestle India Ltd has posted a net profit of Rs261.18 crore for the quarter ended 30 September 2011 against a net profit of Rs218.56 crore during the quarter ended 30 September 2010 – a 19.5 per cent growth year-on-year.
The company's total income increased to Rs1,975.19 crore during the quarter ended 30 September 2011, from Rs1,646.80 crore during the previous year quarter, unaudited results released by the company showed.
Net sales for the quarter rose 19.9-per cent to Rs196.31 crore during the quarter while domestic sales jumped 20.7 per cent, both on volume and price basis.
A ban on export of milk, however, has affected exports adversely, Nestle said in its filing with the Bombay Stock Exchange (BSE).
Exports, however grew at a slower pace of 4.6 per cent during the quarter.
"We have again for the 19th consecutive quarter delivered double-digit profit growth. Whilst we continue to build our position for the future, our expansion of manufacturing capacities is providing market share environment, optimisation of portfolio, prioritisation of sales channels, management of price coupled with Nestle's continuous excellence has further strengthened our position as the leading nutrition, health and wellness food company in India. I am happy that our strategy is working, especially thanks to our people and business partners," said Antonio Helio Waszyk, chairman and managing director of Nestle India.
