Net profit of Nestle India rose 9.60% to Rs 341.76 crore in the quarter ended December 2018 as against Rs 311.83 crore during the previous quarter ended December 2017. Sales rose 11.17% to Rs 2878.83 crore in the quarter ended December 2018 as against Rs 2589.64 crore during the previous quarter ended December 2017.

For the full year,net profit rose 31.16% to Rs 1606.93 crore in the year ended December 2018 as against Rs 1225.19 crore during the previous year ended December 2017. Sales rose 12.70% to Rs 11216.23 crore in the year ended December 2018 as against Rs 9952.53 crore during the previous year ended December 2017.

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Nestle India announced that the Annual General Meeting (AGM) of the company will be held on 25 April 2019.

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The result was announced after market hours yesterday, 14 February 2019.

Meanwhile, the S&P BSE Sensex was down 130.78 points, or 0.36% to 35,745.44.

On the BSE, 6,568 shares were traded in the counter so far compared with average daily volumes of 4,559 shares in the past two weeks. The stock had hit a high of Rs 10730.10 and a low of Rs 10318.65 so far during the day. The stock hit a 52-week high of Rs 11,777 on 7 February 2019. The stock hit a 52-week low of Rs 7,429.50 on 15 February 2018.

Total sales increased by 11.2% while domestic sales grew 12% in the December quarter supported by volumes and was broad based, it said. Export sales remained flat due to lower exports to Bangladesh & United Arab Emirates.

Total sales and domestic sales for the year increased by 10.7% and 10.9% respectively. These growth rates were adversely impacted due to lower reported sales by the change in structure of indirect taxes.

Commenting on the results, Suresh Narayanan, chairman and managing director, Nestle India said that the firm has, once again, delivered volume led profitable growth. There was double digit growth in almost all the categories, supported by a step up in demand generating activities including on new products. Brands like Maggi, Nescafe, Kitkat, Munch and Everyday continued to deliver strong performances, he added.

Nestlé India is a subsidiary of Nestlé S.A. of Switzerland. Nestlé is the world's largest food and beverage company. It has more than 2000 brands ranging from global icons to local favourites, and it is present in 191 countries around the world.

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Nestle India announced that the Board of Directors of the Company at its meeting held on 14 February 2019, has recommended a Final dividend of Rs.25 per share(i.e.250%), subject to the approval of the shareholders.

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