New Delhi, Feb 14 (PTI) FMCG major Nestle India today reported an increase of 59.57 per cent in its net profit to Rs 311.83 crore for the fourth quarter ended December 2017, led by volume growth.

The company, which follows January-December as financial year, had posted a net profit of Rs 195.41 crore for the October-December quarter of the previous fiscal.

Its net sales during the quarter under review were up 10.91 per cent at Rs 2,589.64 crore as against Rs 2,334.78 crore for the corresponding period a year ago, Nestle said in a BSE filing.

Nestle India’s total expenses in Q4 2017 were at Rs 2,175.14 crore in the reported quarter as against Rs 2,079.63 crore a year ago, up 4.59 per cent.

For the year 2017, Nestle India reported an increase of 22.35 per cent in its net profit to Rs 1,225.19 crore as against Rs 1,001.36 crore in 2016.

Its net sales in 2017 went up by 7.71 per cent to Rs 10,135.11 crore as against Rs 9,409.60 crore in the previous year.

Commenting on the annual results, Nestle India CMD Suresh Narayanan said: “It is extremely pleasing that we ended year 2017 on a strong note by reaching a historic milestone of over Rs 10,000 crore in revenue, in a year where we had to adapt to significant changes in the external environment.”

This is published unedited from the PTI feed.