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Our Bureau

New Delhi, Aug 2 Nestle India has reported an increase of 18.09 per cent in its net profits for the second quarter ending June 30, 2007, at Rs 95.69 crore from Rs 81.03 crore posted during the corresponding period of the previous year.

The company also recorded a growth of 23.15 per cent in its net sales to Rs 838.88 crore (Rs 681.18 crore).

According to an official release, commenting on the results, Mr Martial Rolland, Chairman and Managing Director, Nestle India, said: “Blending our long Indian heritage with our understanding of food and nutrition and access to R&D capabilities worldwide, we have developed a strong science-based innovation and renovation pipeline which is showing in our results.”

Net domestic sales were up by 24 per cent to Rs 756.9 crore, on higher volumes and price increases. Export sales were also up by 15.6 per cent to Rs 82 crore compared with the same period last year, largely due to higher realisations and a favourable product mix.

The board of directors of Nestle India also approved the appointment of former TRAI chairman Mr Pradip Baijal, as the Non-Executive Director of the company.

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