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Our Bureau

New Delhi , July 29

NESTLE India has declared net sales of Rs 544.39 crore and 36 per cent lower net profit of Rs 42.78 crore for the quarter ended June 30. The company's board of directors had declared an interim dividend of Rs 10 per share for the year 2004 earlier this month which will be payable from July 30, it said in a statement.

Domestic sales during the quarter under review were up by 3.1 per cent to Rs 485.31 crore. The statement said they were negatively impacted by a selective rationalisation of pipeline stocks in certain geographies and products and that this was done in keeping with the company policy of providing fresh stocks to the consumer.

Domestic sales for the quarter have also been impacted by the lower availability of milk fat, it added.

While export sales during the quarter have increased by 6.5 per cent in volume terms, they have declined in value terms by 21.4 per cent over the same period last year.

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