Nestle India Q1 profit declines 7 per cent to Rs 259 crore

FMCG major Nestle India today posted a 7.14 per cent decline in net profit to Rs 259.16 crore in the first quarter ended March 31.
The company had posted a profit of Rs 279.09 crore in the January-March quarter a year earlier.
Net sales rose to Rs 2,313.46 crore from Rs 2,248.08 crore in the same period of the previous year, Nestle India said in a BSE filing.
"The first-quarter results are broadly as expected and in line with our strategy, which was alluded to in my comments while announcing the full year 2013 results," Nestle India Managing Director Etienne Benet said.

He said Nestle would continue to take decisions to move towards being a leader of nutrition, health and wellness in India.
Nestle said its board declared an interim dividend of Rs 12.50 per equity share for 2014.
Nestle India shares rose 0.56 per cent to Rs 4,851.35 at the close on the BSE.