FMCG major Nestle India Ltd on Thursday reported a 20 percent 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 percent 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 percent 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 percent to Rs 3,559.78 crore, as against Rs 3,260.70 crore in the July-September of 2020.
While its exports were down 6.63 percent 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.
At 12.49 PM, shares of Neslte India were trading 0.27 percent down or Rs 48.85 at Rs 18,195.50 from its previous close.
(With PTI inputs)
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