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Nestle India Q1 profit climbs 9.3% YOY

Nestlé India Ltd. said its normalized net income for the first quarter was 29.78 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 34.34 rupees per share.

EPS rose 9.3% year over year from 27.25 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.87 billion rupees, a gain of 9.3% from 2.63 billion rupees in the year-earlier period.

The normalized profit margin increased to 11.5% from 11.4% in the year-earlier period.

Total revenue rose 8.2% on an annual basis to 24.92 billion rupees from 23.02 billion rupees, and total operating expenses increased 7.2% on an annual basis to 20.51 billion rupees from 19.13 billion rupees.

Reported net income rose 18.4% from the prior-year period to 3.07 billion rupees, or 31.82 rupees per share, from 2.59 billion rupees, or 26.86 rupees per share.

As of May 12, US$1 was equivalent to 64.23 Indian rupees.