Nestle India has reported 13.4 per cent rise in its net profit at Rs 230.83 crore for the quarter ended December 31, 2011, against Rs 203.83 crore in the corresponding period a year ago.
Nestle said the cost of materials for goods sold as percentage of net sales decreased largely due to improved product and channel mix as well as ‘Nestle Continuous Excellence' initiatives, but this was partially offset by the higher input cost inflation. The net sales for the current quarter stood at Rs.1954.7 crore , an increase of 17 per cent.
The Board of Directors has recommended a final dividend for 2011 of Rs. 12.50 per equity share (nominal value Rs.10 per equity share). This is in addition to the two interim dividends for 2011, of Rs 9 and Rs 27.00 per equity share paid in May 2011 and December 2011, respectively.