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Nestle India Q3 profit climbs 26.3% YOY

Nestlé India Ltd. said its normalized net income for the third quarter was 33.99 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 30.44 rupees per share.

EPS increased 26.3% year over year from 26.91 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.28 billion rupees, a gain of 26.3% from 2.59 billion rupees in the prior-year period.

The normalized profit margin rose to 13.0% from 11.0% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to 25.14 billion rupees from 23.63 billion rupees, and total operating expenses rose on an annual basis to 20.10 billion rupees from 19.86 billion rupees.

Reported net income grew 27.4% on an annual basis to 3.43 billion rupees, or 35.59 rupees per share, from 2.69 billion rupees, or 27.94 rupees per share.

As of Nov. 10, US$1 was equivalent to 65.16 Indian rupees.