Nestle Q4 net marginally up at Rs 281.66 crore

Nestle India on Friday posted a marginal increase in net profit at Rs 281.66 crore for the fourth quarter that ended on December 31, 2013.

The FMCG major had posted a net profit of Rs 278.92 crore in the corresponding quarter a year ago.

The company follows January-December financial year.

Net sales of the company during the quarter under review rose to Rs 2,252.30 crore from Rs 2,152.65 crore in the same period of the previous year.

"2013 was an extremely challenging year. I am satisfied that we maintained decent growth while protecting healthy margins," Nestle India managing director Etienne Benet said.

Commenting on the outlook, he said, "We have embarked on an ambitious journey of reshaping the Company and the product portfolio towards our vision and ambition to be the recognised leader of Nutrition, Health and Wellness in India. This will take time and effort."

The economic environment remains unchanged and we expect the current pressure to continue, in particular on input costs, Mr Benet added.

"I am convinced that we will take the right decisions for the mid and long term future and for a sustainable and healthy growth of the Company," he said.

For the year ended December 2013, Nestle India's net profit stood at Rs 1,117.13 crore. It was Rs 1,067.93 crore in 2012.

Net sales during FY13 stood at Rs 9,061.90 crore as compared to Rs 8,302.26 crore in the previous fiscal year, the company said.

Meanwhile, in a separate filing Nestle India said its board has recommended a final dividend for the year 2013 of Rs 12.50 per equity shares of Rs 10 each.

Shares in Nestle India, on Friday, ended at Rs 5075.40 apiece on the BSE, down 0.58 per cent from the previous close.