October 26, 2018 / 12:37 PM / in 21 days

Nestle India posts 30 percent rise in quarterly profit on strong domestic sales

A Nestle logo is pictured on a coffee factory in Orbe, Switzerland May 31, 2018. Picture taken May 31, 2018. REUTERS/Denis Balibouse/Files

(Reuters) - Nestle India Ltd, maker of Maggi instant noodles and Kit-Kat chocolates, reported a near 30 percent rise in quarterly profit on Friday, driven by higher domestic sales.

Profit came in at 4.46 billion rupees ($60.72 million) in the quarter ended Sept 30, compared with 3.43 billion rupees a year earlier.

Revenue from operations in the quarter grew nearly 17 percent to 29.39 billion rupees, the Indian unit of Swiss food group Nestle SA said.

Sales in the domestic market grew 17.5 percent to 27.50 billion rupees in the quarter, while expenses rose 14.5 percent.

($1 = 73.4550 Indian rupees)

Reporting by Krishna V Kurup in Bengaluru; Editing by Amrutha Gayathri

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