FMCG major Nestle India reported an increase of 26.7 per cent in its net profit for the first quarter ended March 31 at Rs 255.7 crore (Rs 201.8 cr).
Net sales for the quarter increased by 22.3 per cent at Rs 1,809.9 cr.
Domestic sales increased by 23.1 per cent at Rs 1,711.9 cr on account of volumes and selling prices, according to a company release. Exports grew by 10.2 per cent at Rs 98 cr.
“We have maintained the momentum, achieving double digit profitable growth for the seventeenth consecutive quarter. This is even more significant considering the unprecedented cost pressures and, more specifically the volatile commodity prices,” said Mr Antonio Helio Waszyk, Chairman and Managing Director, Nestle India.
Capacity expansions of the company are on track and an interim dividend of Rs 9 per equity share has been announced, amounting to Rs 867.7 million, according to the release.