Nestle Q4 net profit down 8.6% to Rs 167.31 crore

New Delhi: FMCG major Nestle India on Wednesday reported a decline of 8.66 percent in its standalone net profit to Rs 167.31 crore for the fourth quarter ended December 31, 2016.

The company, which follows January-December financial year, had posted a net profit of Rs 183.19 crore during the October-December quarter last fiscal.

However, net sales of the company during the quarter under review were up 16.17 percent to Rs 2,261.28 crore as against Rs 1,946.44 crore in the corresponding quarter of the last fisal, Nestle said in a BSE filing.

Total expeneses during the quarter under review moved up 15.99 percent to Rs 1,927.16 crore as against Rs 1,661.45 crore in the year-ago period.

Shares of Nestle India today settled at Rs 6,173.60 on BSE, down 0.58 percent from previous close.