Nestle India Q1 net profit up by 38%

Nestle India's net profit for the first quarter of 2018 went up by 38 per cent, a regulatory filing by the company showed here on Thursday.

The company posted a profit of Rs 424 crore for the January-March quarter of 2018 compared to Rs 306.7 crore posted during the corresponding period in 2017.

"I am happy that during the quarter we have sustained our growth momentum, which is backed by broad volume based growth across categories. This is in line with our strategy of broad based growth through increased penetration," said Suresh Narayanan, Chairman and Managing Director, Nestle India.

"We are committed to a healthier future, and in line with our vision to introduce products rooted in nutrition, health and wellness, we will be adding breakfast cereals to our existing portfolio this year. This business complements our current portfolio by combining our expertise in food and this category globally," he added.

The company posted a total income of Rs 2813. 67 crore for the first quarter of 2018 compared to Rs 2,633.5 crore clocked during the corresponding period in 2017.

--IANS

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