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Nestle India Jan-Mar profit rises marginally to `279 cr

FMCG major Nestle India on Monday  posted a consolidated net profit of Rs 279.09 crore for the first quarter ended 31 March, 2013.

The company had reported a net profit of Rs 275.73 crore during the same period of previous year, Nestle India said in a statement. Net sales of the company rose to Rs 2,248.08 crore for the first quarter compared to Rs 2,047.45 crore in the same period of previous year.

Nestle said the net profit for the 2013 March quarter is not comparable with the same period of 2012 as it has been negatively impacted due to changes in regulatory procedures.

'These changes resulted in timing differences for certain provisions for contingencies that reduced the net profit for the quarter,' it added. During the quarter, there was no additional draw of loan from Nestle SA under the external commercial borrowings approval from Reserve Bank of India, the company said.


RELIANCE MEDIAWORKS Q4 LOSS WIDENS TO RS 219 CR

Reliance Mediaworks on Monday reported consolidated net loss of Rs 219.19 crore for the quarter ended 31 March, and its plans to raise Rs 605 crore from a private equity fund has been delayed.

The company had posted net loss of Rs 154.14 crore in the same quarter in the previous fiscal, Reliance Mediaworks said in a filing to the BSE. Net sales for the quarter stood at Rs 140.54 crore, as against Rs 173.41 crore in the year-ago period.


RPOWER QUARTERLY PROFIT ENERGISED 15% TO RS 266 CR

Reliance Power on Monday posted 15 per cent jump in its net profit at Rs 266.06 crore for the quarter ended 31 March  2013.

The company had reported a net profit of Rs 231.31 crore in the corresponding quarter of the previous financial year (2012-13), Reliance Power said in a statement. Total income of the company stood at Rs 1,247.79 crore during the period compared to Rs 532.59 crore in the same period last fiscal (2011-12).
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