PROFIT BY 36% TO ₹424 cr
NEW DELHI: FMCG major Nestle India on Thursday reported a 35.98 per cent jump in profit at Rs 424.03 crore for the first quarter ended March 31, 2018.
The company, which follows January-december financial year, had posted a profit of Rs 311.83 crore in the same period a year ago, Nestle India said in a BSE filing.
Revenue from operations was at Rs 2,757.24 crore during the quarter under review. It stood at Rs 2,601.46 crore in the corresponding period last year, it added.
After the GST implementation from July last year, the new indirect tax has not been recognised as part of sales and hence is not comparable with the corresponding year-ago quarter.
"Profit from operations in percentage of sales and net profit in percentage of sales are positively impacted as the percentages have been calculated on lower reported sales," the company said.
Commenting on the company's performance, Nestle India Chairman and Managing Director Suresh Narayanan said during the quarter the company had sustained its growth momentum, which is backed by broad volume-based growth across categories. "This is in line with our strategy of broadbased growth through increased penetration," he added.
Nestle India said its board of directors has declared an interim dividend for 2018 of Rs 20 per equity share of face value Rs 10 amounting to Rs 192.83 crore, which will be paid on and from June 1, 2018.
On the outlook, Narayanan said, "We are committed to a healthier future, and in line with our vision to introduce products rooted in nutrition, health and wellness, we will be adding breakfast cereals to our existing portfolio this year."
This business complements the company's current portfolio by combining its expertise in food and this category globally, he added. NEW DELHI: Zee Entertainment Enterprises Ltd (ZEEL) on Thursday reported a 84.76 per cent fall in consolidated net profit at Rs 230.64 crore for the quarter ended on March 31, 2018.
It had registered a net profit of Rs 1,513.87 crore in January-march a year ago aided by sale of its sports business. In the fourth quarter of 201617, ZEEL reported exceptional income of Rs 1,223.44 crore.
Total income during the quarter under review was at Rs 1,813.43 crore, up 14.56 per cent against Rs 1,582.89 crore a year earlier, ZEEL said in a filing with the BSE.
For the full year ended March 2018, ZEEL'S consolidated net profit was at Rs 1,477.75 crore as against a net profit of Rs 2,220.11 crore in the previous fiscal.
ZEEL reported a total income of Rs 7,126.03 crore in 2017-18 as against Rs 6,658.17 crore a year ago.
Meanwhile, in a separate filing, ZEEL informed the BSE that its board in a meeting recommended payment of equity dividend of Rs 2.90 per share for 2017-18.
ZEEL shares settled at Rs 589 apiece, down 0.40 per cent, on the BSE.