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Nestle India brews quarterly profit by 9.6%

Nestle India brews quarterly profit by 9.6%

New Delhi: FMCG major Nestle India Thursday reported a 9.6 per cent increase in net profit at Rs 341.76 crore for the fourth quarter ended December 31, 2018. The company had posted a net profit of Rs 311.83 crore in the corresponding period of the previous fiscal, Nestle India said in a regulatory filing.

Total income in the fourth quarter stood at Rs 2,972.5 crore as against Rs 2,652.55 crore in the year-ago period, it added. Total sales increased by 11.2 per cent while domestic sales grew 12 per cent in the December quarter supported by volumes and was broad based, it said.

For the full year ended December 31, 2018, Nestle India said its net profit was at Rs 1,606.93 crore as against Rs 1,225.19 crore in the previous financial year. Total income for the year stood at Rs 11,551.19 crore as compared to Rs 10,369.1 crore in the year-ago period.

"We have, once again, delivered volume led profitable growth. There has been double digit growth in almost all the categories, supported by a step up in demand generating activities including on new products," Nestle India CMD Suresh Narayanan said.

Brands like Maggi, Nescafe, Kitkat, Munch and Everyday continued to deliver strong performances, he added.

"We became the first listed pure play food and beverage company in India to cross Rs 10,000 crore in revenue for the full year 2017 and have now crossed Rs 11,000 crore in revenue for the year 2018," Narayanan said.

During the year, Nestle India said total sales and domestic sales increased 10.7 per cent and 10.9 per cent, respectively. "These growth rates are adversely impacted due to lower reported sales by the change in structure of indirect taxes," it added.

Nestle India further said the board has recommended a final dividend of Rs 25 per equity share amounting to Rs 241.04 crore for the year 2018. The total dividend for 2018 aggregates to Rs 115 per equity share.

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