The Hindu Business Line : Nestle net up 23% in 2005

Nestle India has posted a 22.88 per cent rise in its net profit at Rs 309.57 crore for the year ended December 31, 2005 compared with Rs 251.92 crore for the same period last year. The company recorded a 11.53 per cent increase in its gross revenue at Rs 250.06 crore for the year ended December 31, 2005 (Rs 224.20 crore).

However, the company has recorded a 3.04 per cent fall in net profit at Rs 74.16 crore for the quarter ended December 31, 2005 compared with Rs 76.49 crore for the same period last year. The company has reported 8.95 per cent increase in its gross revenue to Rs 628.54 crore (Rs 576.86 crore) in the quarter ended December 31, 2005.

Mr Martial Rolland, Chairman and Managing Director of Nestlé India, said, "Nestlé India has performed well during the year and I am satisfied with the direction in which we are moving. Our strong brands and our strive towards continuous innovation and renovation helped us achieve sustainable and profitable growth.''

The company's net domestic sales for the full year increased by 11.8 per cent to Rs 2217.72 crore. Export sales too increased by 6.4 per cent at Rs 259.18 crore. The rise in export sales was attributed to "higher realisation on instant coffee exports to Russia (due to higher Green Coffee prices) and export of infant nutrition products during the year".The board of directors has recommended a final dividend of Rs 2 per equity share. This in addition to the two interim dividends of Rs 5 and Rs 18 declared and paid out earlier.