Nestle India sales up 16 percent

New Delhi, April 30 (Inditop) Nestle India Thursday reported 16 percent jump in sales during January-March this year at Rs.1,265.85 crore from Rs.1,091 crore in the like period last year.

The company’s domestic sales saw 18.7 percent rise during the quarter, while exports plummeted 15.1 percent, Nestle said in a statement.

The decline in exports is mainly due to a demand slump in Russia, one of the major overseas markets of the company.

The net profit during the first quarter of 2009 rose 23.2 percent to Rs.197.3 crore from Rs.160.15 crore in the corresponding quarter last year.

“Our good growth over the past few years has provided increasing returns to our shareholders,” Martial Rolland, chairman and managing director of Nestle India, said in the statement.

The company also announced a dividend of Rs.9 per share with a face value of Rs.10.