Nestle India Q4 net profit up 26%

Nestle India today posted a 26.67% growth in its net profit for the quarter.

Leading FMCG firm Nestle India today posted a 26.67 per cent growth in its net profit for the quarter ended March 31,2011 (Q4 result) to Rs 255.71 crore.

The company,which had a net profit of Rs 201.86 crore in the corresponding quarter previous fiscal,said it has registered a good growth despite cost pressures and surging commodity prices.

During the period under review,the company’s net sales grew by 22 per cent to Rs 1,809.9 crore from Rs 1,479.78 crore posted in the year ago period.

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For the year ended March 31,2011,Nestle India’s net profit stood at Rs 818.66 crore while it had a net sales of Rs 6,254.75 crore during the period.

“We have maintained the momentum,achieving double digit profitable growth for the 17th consecutive quarter. This is even more significant considering the unprecedented cost pressures and,more specifically the volatile commodity prices,” Nestle India Chairman and Managing Director Antonio Helio Waszyk said in a statement on the Q4 results.

Going forward,the company said it will invest in expanding its manufacturing capacities and bringing in more innovations in its existing portfolio.

Besides,the company also announced an interim dividend of Rs 9 per share (on nominal value of Rs 10 per share) for the year 2011,amounting to Rs 867.7 million.

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This will be paid on and from May 6,2011 along with the final dividend for 2010 of Rs 12.50 per equity share approved in the Annual General Meeting on April 19,2011,it added.