Published on 14/02/2018 5:33:35 PM | Source: Reuters

Nestle India fourth-quarter profit up 60 percent

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 Mohan)