Home Progressive Grocer Nestle India Records Net Profit of Rs 2591.60 mn in Q1 2014

Nestle India Records Net Profit of Rs 2591.60 mn in Q1 2014

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Nestle India has posted a net profit of Rs 2,591.60 million for the quarter ended March 31, 2014 as compared to Rs 2,790.90 mn for the quarter ended March 31, 2013. Total income increased from Rs 22,680.80 mn for the quarter ended March 31, 2013 to Rs 23,524.40 mn for the quarter ended March 31, 2014.

Nestle to pass on GST benefits to consumers
Nestle India also said in preparation for GST rollout, it has engaged and trained over 3,500 suppliers, over 1,600 distributors covering the entire direct value chain of the company, with awareness programmes across India

Commenting on the results of the first quarter of 2014, Etienne Benet, MD, Nestle India, said: The first quarter results are broadly as expected and in line with our strategy, which was alluded to in my comments while announcing the full year 2013 results. We will continue to take the right decisions in the short and medium term to ensure that we consistently move towards our ambition of being recognised as the leader of nutrition, health and wellness in India while maintaining overall healthy performance.”

Net sales for the quarter stood ar Rs 2,313 crore increasing by 2.9 percent compared to the same period last year.Net domestic sales grew by 3.4 percent while export sales declined by 4.4 percent largely due to export related to affiliates.

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