Bizbits

Nestle first half net up

MUMBAI: Nestle India has reported a 57 per cent rise in net profit to Rs 35.10 crore for the first half ended July 5, 1998. Of this, the company reported a net profit of Rs 19.50 crore in the quarter ended July 5. Turnover in the first half has risen to Rs 787.60 crore, an increase of 26 per cent over the same period Rs 624.60 crore in the previous year. Turnover in the quarter ended July 5 stood at Rs 417.70 crore. The gross profit after interest Rs 24.80 crore but before depreciation and taxes in the first half stood at Rs 77.20 crore against Rs 37.20 crore. Depreciation was higher at Rs 14.90 crore Rs 13.50 crore.