Nestle India Ltd has posted a net profit of 764.90m rupees (US$17.56m) for the quarter ended 31 December 2004 compared to 454.20m for the quarter ended December 31, 2003.
Total income increased from 5.36bn rupees in the fourth quarter of 2003 to 5.77bn for the quarter ended December 31, 2004.
The company posted a net profit of 2.52bn rupees for the year ended 31 December 2004 as compared to 2.63bn for the year ended 31 December, 2003. Total income has increased from 21.68bn rupees in 2003 to 22.42bn for the year ended 31 December 2004.
“There has been a shift in consumer spending towards asset building and non-food related lifestyle changes, driven by low cost credit available widely to consumers and diverting some consumer demand from FMCG products,” said chairman and managing director Martial Rolland. “Hence, we focused on maintaining market shares, improving organizational structure, improving penetration into newer territories and controlling costs. The fourth quarter of 2004 witnessed a more favourable growth.”