Food and beverages major Nestle India on Thursday reported an 18 per cent jump (YoY) in its profit before tax (PBT) for the October-December quarter.
The company’s PBT rose to Rs 614.6 crore from Rs 522 crore. Its net sales stood at Rs 3,131 crore — 8.8 per cent higher than Rs 2,879 crore in the corresponding quarter previous year.
Nestle, which follows a January-December financial year, also declared its yearly income for 2019. Its PBT for the year rose 10 per cent YoY to Rs 2,675 crore — up from Rs 2,429 crore. While its net sales grew 9.6 per cent to Rs 12,295 crore.
The company’s domestic sales, which forms 95 per cent of its net sales, grew 11 per cent. However, lower export of products like instant coffee impacted its top line growth rate.
Suresh Narayanan, chairman and managing director, Nestle India, said, “We have delivered broad-based volume and mix-led growth. This is a trend that we have demonstrated consistently in the recent years. Maggi Noodles, KitKat, Nestle Munch, Ceregrow, Maggi Masala-ae-Magic, Nescafe and Nangrow delivered strong performances during the year.