Thursday, 16 February 2017

Nestle India Q4 net profit slips 8.7% at Rs 167.31 cr

Swiss firm’s India unit Nestle India Ltd has reported a fall of 8.7 per cent in its standalone net profit after taxes (PAT) at Rs 167.31 crore for the fourth quarter ended December 31, 2016, hit by higher tax expenses and demonetisation. “The standalone net profit of the company stood at Rs 183.19 crore during the same period a year ago,” Nestle India Ltd said in a filing to the Bombay Stock Exchange. 

The company follows January-December financial year. It’s standalone total income, however, grew by 17.1 per cent at Rs 2,326.7 crore during Q4 2016-17, as compared to Rs 1,986.73 crore during the same period last year. The net sales of the company increased to Rs 2,261.28 crore for the quarter, against Rs 1,946.44 crore for the same period a year ago.

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