Nestle India quarterly net profit soars 21%
21 Feb 2013 6:41 AM IST
Nestle India, a subsidiary of Swiss fast moving consumer goods (FMCG) mutinational corporation (MNC) Nestle, on Wednesday reported a 20.83 per cent increase in its net profit to Rs 278.93 crore for the quarter ended December 31, 2012, on the back of good domestic and export performance. The company had posted a net profit of Rs 230.83 crore in the same period of 2011.
Its net sales rose to Rs 2,152.64 crore in the October-December quarter compared to Rs 1,954.68 crore in the corresponding period of 2011, Nestle India said in a filing to the Bombay Stock Exchange (BSE).
For the year ended 31 December 2012, the company posted a net profit of Rs 1,067.93 crore, up 11.06 per cent from Rs 961.55 crore in 2011.
'We anticipated the challenges and we started 2012 with caution to deliver again a steady performance by taking the challenges head on. We invested close to Rs 1,000 crore responsibly, expanding our manufacturing and distribution footprint,' Nestle India Chairman and Managing Director A Helio Waszyk said in a statement.
He added that given the uncertainty in the environment, the company remains cautious in the short term but is confident of sustainable and profitable growth in the future.The company's net sales of for the year ended December 31, 2012, rose to Rs 8,302.26 crore compared to Rs 7,490.82 crore in 2011.
The Nestle India board on Wednesday declared a third interim dividend of Rs 12.50 per equity share for the year 2012.
Nestle employs 7,000 people in India and its products are sold in 40 lakh outlets across the nation.
Shares of Nestle on Wednesday closed at Rs 4,593.55 on the Bombay Stock Exchange, up 0.01 per cent from its previous close.
Its net sales rose to Rs 2,152.64 crore in the October-December quarter compared to Rs 1,954.68 crore in the corresponding period of 2011, Nestle India said in a filing to the Bombay Stock Exchange (BSE).
For the year ended 31 December 2012, the company posted a net profit of Rs 1,067.93 crore, up 11.06 per cent from Rs 961.55 crore in 2011.
'We anticipated the challenges and we started 2012 with caution to deliver again a steady performance by taking the challenges head on. We invested close to Rs 1,000 crore responsibly, expanding our manufacturing and distribution footprint,' Nestle India Chairman and Managing Director A Helio Waszyk said in a statement.
He added that given the uncertainty in the environment, the company remains cautious in the short term but is confident of sustainable and profitable growth in the future.The company's net sales of for the year ended December 31, 2012, rose to Rs 8,302.26 crore compared to Rs 7,490.82 crore in 2011.
The Nestle India board on Wednesday declared a third interim dividend of Rs 12.50 per equity share for the year 2012.
Nestle employs 7,000 people in India and its products are sold in 40 lakh outlets across the nation.
Shares of Nestle on Wednesday closed at Rs 4,593.55 on the Bombay Stock Exchange, up 0.01 per cent from its previous close.
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