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May, 14 2014

Nestle's first quarter profit drops

Down by seven percent.

Nestle India has seen a slowdown in its profit for the quarter which ended on 31st March. The company profit is down by seven percent to Rs 259 crore from Rs 279.09 crore in the previous fiscal year. However, the company’s net sales grew by 2.9 per cent to Rs 2313 crore.

The company said that the operating margins have been adversely impacted, “by high price of milk solids” among other higher expenditures on the base of a strong quarter last year. The firm follows the January-December financial year.

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