Nestle India has declared the results for the three months period ended March 31, 2009.

The packaged food manufacturer has posted a 23.19% growth in its net profit for the first quarter ended March 2009.

The company has registered a net profit at Rs 197.30 crore, as against Rs 160.15 crore during the same quarter last year.

The subsidiary of Nestlé S. A. of Switzerland said that it achieved this performance on the back of encouraging sales mix, lower petroleum prices, other operating income, bettered realizations and improved forex exposure management.

Total income during the period under review came up to Rs 1,276.16 crore from Rs 1,097.17 crore of same quarter last year.

The company said that its total operating income, which consists of net sales and other operating income, saw a growth of 16% to Rs 1270.8 crore.

Nestle India's domestic sales have increased by 19%, while other operating income has doubled from Rs 2.4 crore to Rs 5 crore because of backlog of export incentives received during the March quarter.

The fall in exports is mainly due to a demand slump in Russia, one of the major overseas markets of the company.

In a statement, Martial Rolland, chairman and managing director of Nestle India, said, "Our good growth over the past few years has provided increasing returns to our shareholders."

Moreover, the company also declared a dividend of Rs 9 a share with a face value of Rs. 10.

Shares of the company, (on April 29) closed the week at Rs 1,704.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 83,670 at the BSE. Current EPS & P/E ratio stood at 57.88 & 29.45 respectively. The share price has touched a 52-week high of Rs 1,875 and a 52-week low of Rs 1,220.