Business IdeasNestle Q2 net up by 33% at Rs 162 crore
FMCG major Nestle today posted a 33.8 per cent increase in its net profit at Rs 162 crore in the quarter ended June 30, 2009, compared to the same period last year.
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The company recorded a net profit of Rs 121 crore in the comparable period last year, Nestle said in a statement.
During the quarter under consideration, Nestle"s net sales increased by 16.8 per cent at Rs 1,209.5 crore compared with Rs 1,035.63 crore in the same period last year.
"I am pleased with this continuing strong financial performance, enabling us to create economic prosperity even in these challenging times," Nestle India Chairman and Managing Director Martial Rolland said.
Nestle also informed the Bombay Stock Exchange that the board of directors has approved the appointment of Antonio Helio Waszyk as Chairman and Managing Director of the company with effect from October 1, 2009.
Waszyk would assume the charge after incumbent CMD Rolland relinquishes office on September 30, 2009, it added.
Nestle"s net profit for the six-month period ending June 30, stood at Rs 359.32 crore, up by 27.7 per cent compared with the same period last year.
The company had a net sales of Rs 2,475.3 crore in the six-month period, or up by 16.4 per cent over the corresponding period last year.