Nestle India announces Q1 results

Nestle India Ltd has announced the following Unaudited results for the quarter ended March 31, 2007:The Company has posted a net profit of Rs 1084.50 million for the quarter ended March 31, 2007 as compared to Rs 886.10 million for the quarter ended March 31, 2006. Total Income (net of excise) has increased from Rs 6809.60 million for the quarter ended March 31, 2006 to Rs 8700.30 million for the quarter ended March 31, 2007.Commenting on the results, Mr. Martial Rolland, Chairman and Managing Director of the Company, stated The extensive work done in Innovation and Renovation in particulars in the area of Nutrition, Health and Wellness and the setting of appropriate structures is now reflecting in our performance. While we are in a better position to accelerate our growth, the environment continues to be challenging especially on the price of commodities and white collar costs. Various initiatives are undertaken to mitigate them.