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Nestle India fourth-quarter profit up 60 percent


(Reuters) - Nestle India Ltd, maker of Maggi instant noodles and Kit-Kat chocolates, on Wednesday posted a 59.6 percent rise in fourth-quarter net profit, boosted by higher domestic sales.Profit rose to 3.12 billion rupees ($48.68 million) in the quarter ended Dec. 31, from 1.95 billion rupees a year earlier, the Indian arm of Swiss food group Nestle SA said.Domestic sales rose 10.8 percent to 24.01 billion rupees in the quarter and grew about 11.8 percent on a comparable basis, the company said. ($1 = 64.0875 Indian rupees) (Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Vyas ...

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First Published: Wed, February 14 2018. 17:30 IST