Nestle India’s net profit up 17.45%

Fast moving consumer goods (FMCG) major Nestle India reported a rise of 17.45 per cent in its full year (2011) net profit, which stood at Rs.961.6 crore from Rs.818.7 crore in 2010. The company’s net sales for year ended Dec.31 increased by 19.8 per cent at Rs7,490.8 crore from Rs.6,254.75 crore in 2010. Domestic sales increased by 20.2 per cent at Rs.7,095.03 crore, while export growth was adversely impacted by the ban on exports of milk powder. “While the current environment is uncertain requiring cautious attention, we continue our journey,” Nestle India’s chairman and managing director A. Helio Waszyk said.