ALSO READNestle India expects dip in sales growth on account of GST Nestle plans $10-billion revamp Nestle lays first stone for $55 mn coffee factory in Cuba's Mariel port Nestle, Unilever India business weathers GST storm in Q3 MindTree Q3 result: Deal wins, strong traction in digital are main triggers
FMCG major Nestle India on Wednesday reported an increase of 59.57 per cent in its net profit to Rs 3.11 billion for the fourth quarter ended December 2017, led by volume growth. The company, which follows January-December as a financial year, had posted a net profit of Rs 1.95 billion for the October-December quarter of the previous fiscal. Its net sales during the quarter under review were up 10.91 per cent at Rs 25.89 billion as against Rs 23.34 billion for the corresponding period a year ago, Nestle said in a BSE filing. Nestle India's total expenses in Q4 2017 were at Rs 21.75 billion in the reported quarter as against Rs 20.79 billion a year ago, up 4.59 per cent. For the year 2017, Nestle India reported an increase of 22.35 per cent in its net profit to Rs 12.25 billion as against Rs 10.01 billion in 2016. Its net sales in 2017 went up by 7.71 per cent to Rs 101.35 billion as against Rs 94.09 billion in the previous year. Commenting on the annual results, Nestle India CMD Suresh Narayanan said: "It is extremely pleasing that we ended year 2017 on a strong note by reaching a historic milestone of over Rs 100 billion in revenue, in a year where we had to adapt to significant changes in the external environment.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)