Nestle net jumps 18% to Rs 96 crore

Nestle India's reported a 18.09 per cent increase in net profit for the quarter ended June 30 at Rs 95.69 crore compared with Rs 81.03 crore for the comparable quarter last year. Nestle India is a subsidiary of Nestlé SA of Switzerland.

Total income for the quarter increased to Rs 842.06 crore (Rs 685.59 crore), up 22.82 per cent.

Net sales including exports increased by 23.2 per cent. While, net domestic sales increased by 24 per cent on account of volumes and price hikes, export sales increased by 15.6 per cent largely due to higher realisations and a favourable product mix.

The board of directors today also announced the appointment of bureaucrat Pradip Baijal as a non-executive director of the company. Baijal has held diverse portfolios in both the central and state governments. From 2003-06, he was the chairman of the Telecom Regulatory Authority of India (Trai).