Nestle India Q4 net profit down 8.6% to Rs 167.31 crore

However, net sales during the quarter under review were up 16.17% to Rs 2,261.28 crore

FMCG major Nestle India on Wednesday reported a decline of 8.66 per cent in its standalone net profit to Rs 167.31 crore for the fourth quarter ended December 31, 2016.

The company, which follows January-December financial year (FY), had posted a net profit of Rs 183.19 crore during the October-December quarter of the last FY.

However, net sales of the company during the quarter under review were up 16.17 per cent to Rs 2,261.28 crore as against Rs 1,946.44 crore in the corresponding quarter of the last FY, Nestle said in a BSE filing.

Total expenses during the quarter under review moved up 15.99 per cent to Rs 1,927.16 crore as against Rs 1,661.45 crore in the year-ago period.

Shares of Nestle India on Wednesday settled at Rs 6,173.60 on BSE, down 0.58 per cent from the previous close.