Nestle India announces improved Q3 results, profits up 11.24%

Nestle India Ltd has announced the following Unaudited results for the quarter ended September 30, 2006:

The Company has posted a net profit of Rs 829.80 million for the quarter ended September 30, 2006 as compared to Rs 745.90 million for the quarter ended September 30, 2005. Total Income (net of excise) has increased from Rs 6304.80 million for the quarter ended September 30, 2005 to Rs 7273.30 million for the quarter ended September 30, 2006.

Chairman and Managing Director of the Company, Mr. Martial Rolland stated "Our results for the quarter have been strong as we continue to consolidate ourselves as the leading Company in Nutrition, Health and Wellness. Along with this, our various community initiatives are also progressing rapidly. Whilst our involvement in rural areas is over 40 years old, has long revolved around dairy farming and touches the life of lakhs of people I am very pleased with the progress in our Current initiatives to provide clean drinking water in village schools, sensitization of farmers towards water use as well as training in dairy development for village women. These are important initiatives and we plan to strengthen them even more."

Source : Equity Bulls

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