Nestle India Q1 net profit at Rs.1084.50 million

Nestle India Ltd has announced the Unaudited results for the quarter ended March 31, 2007. The Company has posted a net profit of Rs 1084.50 million for the quarter ended March 31, 2007 as compared to Rs 886.10 million for the quarter ended March 31, 2006. Total Income (net of excise) has increased from Rs 6809.60 million for the quarter ended March 31, 2006 to Rs 8700.30 million for the quarter ended March 31, 2007.

Commenting on the results, Mr. Martial Rolland, Chairman and Managing Director of the Company, stated "The extensive work done in Innovation and Renovation in particulars in the area of Nutrition, Health and Wellness and the setting of appropriate structures is now reflecting in our performance. While we are in a better position to accelerate our growth, the environment continues to be challenging especially on the price of commodities and white collar costs. Various initiatives are undertaken to mitigate them."

The stock closed the day at Rs.1006.50, up by Rs.14.25 or 1.44%. The total traded quantity was 34691 compared to 2 week average of 12479. The stock hit an intraday high of Rs.1010 and low of Rs.993.

Source : Equity Bulls

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