Nestle India Q1-2012 net profit rises 7.8 per cent to Rs276 crore

Nestle India has reported a net profit of Rs275.73 per cent for the January-March 2012 quarter, a 7.8 per cent increase from Rs255.71 crore in the first quarter of the previous year.

Nestle India follows a January-December financial year.

Total income of the company increased to Rs2,061.04 crore during the quarter ended 31 March 2012, from Rs1,822.74 crore during the quarter ended 31 March 2011. Its net sales, at Rs2,047 crore, were up 13 per cent over the same period last year.

The board of directors of Nestlé India Ltd, at its meeting today, considered the unaudited financial results of the company for the first quarter ended 31 March 2012, the company said in a filing with the Bombay Stock Exchange (BSE).

Nestle India said its domestic sales grew 13.7 per cent led by higher realisations but that the company has been adversely impacted by product portfolio and channel optimisation. Exports to third parties has grown by 19.3 per cent while exports to affiliates has declined by 10.1 per cent.

Rupee depreciation has favourably impacted total exports, raising it by 6.3 per cent, Nestle India said. Increase in other operating incomes has been due largely to export incentives, it added.