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FMCG major Nestle India has posted a net profit of Rs 279.1 crore for the first quarter ended March 31, 2013.
It had posted a net profit of Rs 275.7 crore in the same quarter last fiscal.
The company said in a statement that its net profit for this quarter is not comparable with the same period of 2012 as, “it has been negatively impacted due to changes in the regulatory procedures”.
The company follows the January-December period.
Net sales for the quarter ended March 31 grew by 9.7 per cent to Rs 2248.1 crore over the same period of previous year.
While it said that the net domestic sales grew by 7.7 per cent due to net realisations and product mix, export sales grew by nearly 50.9 per cent.
A. Helio Waszyk, Chairman and Managing Director, said: “The start of the year reflects the caution that we have been expressing. While facing several challenges, our concerted efforts are starting to show positive signals in certain categories while in others it may take some more time.”
The company’s scrip closed at Rs 4853.45 on the BSE down 1.13 per cent on Monday.
meenakshi.v@thehindu.co.in
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