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Nestle India Q3 profit climbs 111.4% YOY

Nestlé India Ltd. said its third-quarter normalized net income came to 26.91 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 27.70 rupees per share.

EPS climbed 111.4% year over year from 12.73 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.59 billion rupees, an increase of 111.4% from 1.23 billion rupees in the year-earlier period.

The normalized profit margin climbed to 11.0% from 7.0% in the year-earlier period.

Total revenue increased 35.6% year over year to 23.63 billion rupees from 17.42 billion rupees, and total operating expenses grew 26.2% year over year to 19.86 billion rupees from 15.73 billion rupees.

Reported net income grew 116.9% year over year to 2.69 billion rupees, or 27.94 rupees per share, from 1.24 billion rupees, or 12.88 rupees per share.

As of Oct. 28, US$1 was equivalent to 66.80 Indian rupees.