Nestle India has reported a 68% increase in net profit at Rs 76.49 crore for the quarter ended December 31, 2004 as compared to Rs 45.42 crore during the same period last year. Total income has increased 8% from Rs 535.69 crore in Q4FY03 to Rs 576.86 crore for the quarter ended December 31, 2004.According to a release issued to the BSE, the company reported a 4% dip in net profit to Rs 251.92 crore for the year ended December 31, 2004 as compared to Rs 263.08 crore for the year ended December 31, 2003. Total income increased 3% from Rs 2,168.45 crore in FY03 to Rs 2,242.03 crore for the year ended December 31, 2004.The board of directors has recommended a special dividend of Rs 4.50 per share for the year 2004, mainly out of accumulated profits, subject to shareholder approval.Commenting on the performance during 2004, Martial Rolland, chairman and managing director of Nestle India, said: "There has been a shift in consumer spending towards asset-building and non-food related lifestyle changes driven by low cost credit available widely to consumers and diverting some consumer demand from FMCG products. Hence, we focused on maintaining market shares, improving the organisational structure, improving penetration in new territories and controlling costs. The fourth quarter of 2004 witnessed a more favourable growth."
