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Banking Essentials Newsletter: 17th April Edition

Nestle India Q1 profit climbs 24.7% YOY

Nestlé India Ltd. said its normalized net income for the first quarter amounted to 34.79 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 33.58 rupees per share.

EPS climbed 24.7% year over year from 27.90 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.35 billion rupees, an increase of 24.7% from 2.69 billion rupees in the year-earlier period.

The normalized profit margin climbed to 13.3% from 11.6% in the year-earlier period.

Total revenue grew 8.4% on an annual basis to 25.16 billion rupees from 23.22 billion rupees, and total operating expenses rose year over year to 20.02 billion rupees from 19.12 billion rupees.

Reported net income rose 23.6% from the prior-year period to 3.20 billion rupees, or 33.22 rupees per share, from 2.59 billion rupees, or 26.88 rupees per share.

As of May 15, US$1 was equivalent to 63.38 Indian rupees.