Nestle India has recorded a 26.5 per cent rise in second quarter net profit as its factory in Pantnagar was given an income tax holiday.
Net profit during the quarter ended June 2008 rose to Rs 121.1 crore, or Rs 12.56 per share, from Rs 95.69 crore, or Rs 9.92 per share, in the corresponding quarter of the previous year. Sales rose 23.5 per cent to Rs 1,035.6 crore compared with Rs 838.88 crore in the same quarter a year ago, the company said in a statement. Sales in India rose 24.8 per cent to Rs 944.2 crore while exports rose 11.4 per cent to Rs 91.4 crore.
The company’s net profit margin rose to 11.69 per cent during the quarter from 11.41 per cent in the same quarter last year.
Nestle India's share price on the Bombay Stock Exchange rose 1.27 per cent to Rs 1,632.65 on a day the benchmark Sensex rose 0.48 per cent.
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