Q4 Results of Nestle: Net Profit Rises Marginally to Rs 483 cr
Nestle India - NSE -2.61 %
Today, Nestle reported a 2.25 percent on-year rise in its net profit for the quarter ended December to Rs 483.3 crore. The company’s revenues in the quarter grew 9 percent on a year-on-year (YoY) basis to Rs 3,432.6 crore.
Primarily driven by volume and product mix, domestic sales growth is broad-based. Demand in the out-of-home channel further improved in the quarter but continues to be impacted by Covid-19, the company said in its earnings statement.
For the financial year ended December 31, the company’s board also approved a final dividend of Rs 65 per share.
Nestle India said that its total expenses in the quarter rose 8.3 percent on-year to Rs 2,793 crore, mainly because of an 11.3 percent jump in other company expenses.
The company reported an 8 percent growth to Rs 13,290 crore for the financial year ended December. The company’s net profit climbed 6 percent to Rs 2,082.4 crore.
“Under these circumstances, I am pleased to share that we delivered strong domestic sales growth. Nearly two-thirds of our key brands like Maggi noodles, Kit Kat and Nescafé Classic posted double-digit growth last year,” said Suresh Narayanan, chairman, and managing director at Nestlé India.