Nestle India on Friday reported a 15 per cent growth in net profit to Rs 245.9 crore for the quarter ending June 30. The company had posted a net profit of Rs 213.8 crore for the corresponding quarter last fiscal.
“As expected, 2012 is proving to be a challenging year– inflation persists; uncertain monsoon; economic volatility. We remain cautious,” said Mr Antonio Helio Waszyk, Chairman and Managing Director of Nestlé India. Net sales for the quarter stood at Rs 1,986.6 crore, up 12.7 per cent over the same period of 2011. Net domestic sales rose by 13.7per cent on account of higher net realisation and volume growth. “Though exports to affiliates have declined by 24.5 per cent, exports to third parties have grown by 56.0 per cent. Rupee depreciation has favourably impacted total export growth by 13.1 per cent,” the company said.