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Nestle India defies slump, ups Oct-Dec sales 4.6%

Fast moving consumer goods  major Nestle India on Tuesday posted a marginal increase in net profit at Rs 281.66 crore for the fourth quarter ended 31 December, 2013.

The company had posted a net profit of Rs 278.92 crore during the October-December quarter of 2012-2013.The company follows January-December financial year. Net sales of the company during the quarter under review rose to Rs 2,252.30 crore as against Rs 2,152.65 crore in the same period of previous year.

Commenting on the results, Nestle India Managing Director Etienne Benet said: ‘2013 was an extremely challenging year. I am satisfied that we maintained decent growth while protecting healthy margins.’

Commenting on the outlook, he said: We have embarked on an ambitious journey of reshaping the company and the product portfolio towards our vision and ambition to be the recognised leader of nutrition, health and wellness in India. This will take time and effort’.

The economic environment remains unchanged and we expect the current pressure to continue, in particular on input costs, Benet added. ‘I am convinced that we will take the right decisions for the mid and long term future and for a sustainable and healthy growth of the company,’ he said.

For the year ended December 2013, Nestle India's net profit stood at Rs 1,117.13 crore. It was Rs 1,067.93 crore in 2012.Net sales during FY13 stood at Rs 9,061.90 crore as compared to Rs 8,302.26 crore in the previous fiscal, the company said.Meanwhile, in a separate filing Nestle India said its board has recommended a final dividend for the year 2013 of Rs 12.50 per equity shares of Rs 10 each.

Shares of Nestle India closed at Rs 5075.40 apiece at BSE, down 0.58 per cent from previous close.
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