Nestle Q4 profit rises 21% to Rs 279 crore

FMCG major Nestle India today reported 20.83 per cent increase in its net profit at Rs 278.93 crore for the fourth quarter ended December 31, 2012 on the back of good domestic and export performance.

The company had posted a net profit of Rs 230.83 crore in the same period of 2011.

Net sales of the company rose to Rs 2,152.64 crore in the fourth quarter compared to Rs 1,954.68 crore in the same period of 2011, Nestle India said in a filing to the BSE.

For the year ended December 31, 2012, the company posted a net profit of Rs 1,067.93 crore, up 11.06 per cent from Rs 961.55 crore in 2011.

"We anticipated the challenges and we started 2012 with caution to deliver again a steady performance by taking the challenges head on. We invested close to Rs 1,000 crore responsibly, expanding our manufacturing and distribution footprint," Nestle India Chairman and Managing Director A Helio Waszyk said in a statement.

He added that given the uncertainty in the environment, the company remains cautious in the short term but is confident of sustainable and profitable growth in the future.

Net sales of the company for the year ended December 31, 2012, rose to Rs 8,302.26 crore, compared to Rs 7,490.82 crore in 2011.

The company's board, which met today, declared the third interim dividend of Rs 12.50 per equity share for the year 2012 the company said.

Nestle employs 7,000 people in the country and its products are sold in 40 lakh outlets across India.

Shares of Nestle today closed at Rs 4,593.55 on the BSE, up 0.01 per cent from its previous close.