Nestle India Q4 Profit Dips 20 Percent To Rs 386.66 Crore, Net Sales Up 8.9 Pc To Rs 3,739.32 crore

FMCG major Nestle India Ltd on Thursday reported a 20 per cent decline in its net profit at Rs 386.66 crore for the fourth quarter ended December 31, 2021.

The company, which follows a January-December financial year, had posted a profit of Rs 483.31 crore in the same period a year ago, Nestle India said in a regulatory filing. However, its revenue from operations was up 8.93 per cent to Rs 3,739.32 crore during the period under review, as against Rs 3,432.58 crore in the corresponding period last fiscal, the company said.

Nestle India's total expenses in the October-December quarter, were up 8.23 per cent to Rs 3,022.97 crore, as against Rs 2,793.01 crore of the corresponding period. Nestle India's domestic sales were up 9.17 per cent to Rs 3,559.78 crore, as against Rs 3,260.70 crore in the October-December period of 2020. While its exports were down 6.63 per cent to Rs 146.42 crore, as against Rs 156.82 crore of the corresponding quarter.

"Domestic Sales growth is largely driven by volume & mix and is broad-based," said Nestle in an earning statement adding exports were lower mainly due to lower coffee exports and change in product mix. Shares of Nestle India Ltd were trading at Rs 18,270.80 on BSE, up 0.14 per cent from its previous close.

(PTI)