Nestle India Jan-March Net Profit Rises 7.8% To INR2.76 Billion
04/25/2012| 09:45am US/Eastern
Nestle India Ltd. (500790.BY), a unit of Swiss food giant Nestle SA (NESN.VX), posted a 7.8% increase in net profit for the January-March quarter.
Net profit rose to INR2.76 billion from INR2.56 billion a year earlier, the company told the stock exchanges.
Sales climbed 13% to INR20.47 billion from INR18.10 billion.
Nestle India, which sells products such as Maggi noodles, Nestle yoghurt and dairy whitener, and Kit Kat and Munch chocolates, said local sales rose 14% to INR19.46 billion on the back of higher prices.
Exports increased 3.3% to INR1.01 billion.
However, financing costs for the period jumped to INR22.7 million from INR700,000, it said.
-By Rumman Ahmed, Dow Jones Newswires; 91-9845104173; email@example.com