FMCG major Nestle India today said its net profit rose by 7.8% to Rs 275.7 crore for the first quarter ended March 31, 2012.
The company had posted a net profit of Rs 255.7 crore in the same period of previous year, Nestle said in a statement.
Net sales of the company stood at Rs 2,047.5 crore for the quarter under review compared to Rs 1,809.99 crore in the same period last year.
Commenting on the results, Nestle India Chairman and Managing Director Antonio Helio Waszyk said: "As anticipated, 2012 is already confirming to be a challenging year. Low consumer confidence and the economic environment is creating pressure across sectors."
"We are maintaining a cautious tone, and in recent months and especially in this quarter have focused even more on optimising our product portfolio and in further strengthening the innovation pipeline. This focus has enabled us to maintain a healthy top and bottom line in the quarter," he added.
During the quarter, $21 million were drawn down from Nestle SA for five years for capital expenditure under the External Commercial Borrowing approval from Reserve Bank of India, the company said.
Shares of Nestle today closed at Rs 4,938.10 on the BSE, up 0.92% from its previous close.