Nestle India December quarter net profit up 38.4% YoY to Rs 473 crore

Domestic sales rose 10.04 per cent to Rs 2,960.78 crore as against Rs 2,690.51 crore in October-December 2018.

However, exports declined 9.74 percent to Rs 169.96 crore during the quarter under review from Rs 188.32 crore a year ago.

Domestic sales increased through a combination of 'volume & mix', while exports dropped due to lower exports of coffee to Turkey, the company said in a statement.

Total income during the October-December quarter rose 7.45 percent to Rs 3,193.99 crore as against Rs 2,972.50 crore a year ago.

Total expenses increased 5.26 percent to Rs 2,579.37 crore as against Rs 2,450.30 crore.

For the full year ended December 31, Nestle India's net profit rose 22.56 percent to Rs 1,969.55 crore as against Rs 1,606.93 crore in the previous year.

Net sales for the year stood at Rs 12,295.27 crore, 9.62 percent higher than Rs 11,216.23 crore in the year-ago period.

Commenting on the annual results, Nestle India CMD Suresh Narayanan said, "We have delivered broad based volume and mix led growth. This is a trend we have demonstrated consistently in recent years."

Products like Maggi Noodles, KITKAT, Nestl MUNCH, CEREGROW, MAGGI Masala -ae- Magic, NESCAF RTD and NANGROW delivered strong performances during the year, he added.

"The trend of higher commodity prices witnessed in recent quarters is likely to continue in the near future," he said.

In a separate filing, Nestle India said its board in a meeting held on Thursday recommended final dividend of Rs 61 per equity share for the year 2019.