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INDIA – Nestle reports higher domestic sales, lower coffee exports

Nestle India Tuesday announced a net profit of Rs.311.3 crore (US$50.86 million) in the third quarter of the current fiscal. Net sales amounted to Rs.2,557.8 crore (US$417.87 million) and earnings per share of Rs.32.29 (about 53 US cents).
Net sales in the quarter increased by 8.9%over the same period of the previous year, a statement issued after a board meeting here said. Net domestic sales grew by 9.9% mainly from better realisations while exports declined by 3.9% due to lower coffee exports.
Commenting on the results, Nestle India managing director Etienne Benet said: “The top and bottom line results for the quarter are in line with our expectations. Despite severe input cost pressure, focus on various efficiency and cost containment programs have enabled us to deliver healthy margins.”