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Wednesday, May 01, 2002

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Corporate Results - Food & Dairy Products

Nestle net up 55 pc

Our Bureau

NEW DELHI: Food major Nestle India has clocked a 17.4 per cent growth in its sales revenues at Rs 530 crore for the first-quarter ended March 31, 2002.

And though domestic sales increased by 24.7 per cent, the company's exports dipped by 16.4 per cent. Exports were hit largely due to lower realisations from coffee exports to Russia, following low green coffee prices, besides the restructuring of the company's tea business undertaken in 2001.

However, net profit for the quarter at Rs 61.4 crore was up 55 per cent as compared to the previous year, according to a company release.

During the period, Nestletest- marketed or launched new products such as Maggi Chinese Noodles, Maggi Imli Sauce, Fruitips Pastilles, Nescafe Redimix, Nestle Kream-O-Cook, Nestle MaxiMunch and Nestle Dairy Mate.

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