INDIA: Nestle India books Q3 profit
Nestle India has posted an increase in third-quarter profits, despite a volatile and uncertain environment.
The company reported net profit of INR2.61bn (US$53.3m) for the three months ended 30 September, compared to INR2.19bn the same period last year.
Net sales were up 19.9% for the period, to reach INR1.96bn. Domestic sales increased 20.7% on account of selling prices and volumes. Nestle India said exports growth of 4.6% was impacted by the ban on exports of milk powder.
Chairman and managing director Antonio Helio Waszyk said: "Whilst we continue to build our position for the future, our expansion of manufacturing capacities is providing market share gains to our already strong market positions."
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