Nestle Q2 net up on tax holiday

CORPORATE SCORECARD

Nestle India recorded a 26.5 per cent rise in net profit in the second quarter 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, the company said.