Nestle India Ltd., a unit of the world’s biggest food company, said its fourth-quarter profit fell 16%, in spite of increased revenue.
Net profit in the three months ended 31 December 2006 declined to Rs62.46 crore from Rs74.16 crore in the same period a year earlier, the New Delhi-based company told the Bombay Stock Exchange on 20 March 2007. Revenue during the October-December 2006 quarter increased to Rs743.5 crore from Rs628.5 crore.
Shares of Nestle India rose Rs9.70, or 1.1% , to Rs909.85 in the late afternoon on the Bombay Stock Exchange. The earnings were announced after the close of trading.