February 14, 2018 / 11:59 AM / 5 days ago

Nestle India fourth-quarter profit up 60 percent

(Reuters) - Nestle India Ltd, maker of Maggi instant noodles and Kit-Kat chocolates, on Wednesday posted a 59.6 percent rise in fourth-quarter net profit, boosted by higher domestic sales.

Profit rose to 3.12 billion rupees ($48.68 million) in the quarter ended Dec. 31, from 1.95 billion rupees a year earlier, the Indian arm of Swiss food group Nestle SA said.

Domestic sales rose 10.8 percent to 24.01 billion rupees in the quarter and grew about 11.8 percent on a comparable basis, the company said.

($1 = 64.0875 Indian rupees)

Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Vyas Mohan

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