Nestle India Q4 net profit up 38.41%

Total Sales and Domestic Sales for the year increased by 9.6% and 10.9% respectively.

Feb 14, 2020 07:02 IST India Infoline News Service

Nestle India on Thursday reported a net profit of Rs473.02c, up 38.4% in the quarter ended December 31, 2019, as against a net profit of Rs341.76cr in the corresponding quarter previous fiscal.

The stock is currently trading at Rs16,327.25, down by Rs90.55 or 0.55% from its previous closing of Rs16,417.80 on the BSE.

Total Sales and Domestic Sales for the year increased by 9.6% and 10.9% respectively. Domestic Sales growth is broad-based largely driven by volume & mix. Export Sales decreased by 9.9% due to lower exports of coffee to Turkey.

Suresh Narayanan, Chairman and Managing Director, Nestle India said, "I am pleased to share that we have delivered broad-based volume and mix led growth. This is a trend we have demonstrated consistently in recent years. MAGGI Noodles, KITKAT, Nestle MUNCH, CEREGROW, MAGGI Masala -ae- Magic, NESCAFE RTD and NANGROW delivered strong performances during the year. We continued to bring consumer-relevant innovations and new launches like KITKAT DESSERT DELIGHT Rich Chocolate Fudge, MAGGI Fusian Range and MILO Cocoa-Malt Beverage Mix which have witnessed encouraging response. The trend of higher commodity prices witnessed in recent quarters is likely to continue in the near future.”

“As we enter the new decade, my team and I stay fully committed towards plastic waste management. Our determination and initiatives to make a difference has already shown significant results and many of our key brands like MAGGI Noodles, NESCAFE and KITKAT have become plastic neutral in the year 2019. This reinforces our belief in sustaining our business progress while addressing environmental challenges," Suresh Narayanan added.

The board recommended a final dividend of Rs 61 per equity share.

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