Nestle India fourth-quarter profit up 60 per cent

Nestle India Ltd, maker of Maggi instant noodles and Kit-Kat chocolates, on Wednesday posted a 59.6 per cent rise in fourth-quarter net profit, boosted by higher domestic sales.

Profit rose to Rs 312 crore ($48.68 million) in the quarter ended December 31, from 1.95 billion rupees a year earlier, the Indian arm of Swiss food group Nestle SA said.

Domestic sales rose 10.8 per cent to Rs 2,401 crore in the quarter and grew about 11.8 per cent on a comparable basis, the company said.