Nestlé India announces audited Q4 & FY-04 results

Nestlé India Ltd has posted a net profit of Rs 764.90 million for the quarter ended December 31, 2004 as compared to Rs 454.20 million for the quarter ended December 31, 2003. Total Income has increased from Rs 5356.90 million in Q4-03 to Rs 5768.60 million for the quarter ended December 31, 2004.

The Company has posted a net profit of Rs 2519.20 million for the year ended December 31, 2004 as compared to Rs 2630.80 million for the year ended December 31, 2003. Total Income has increased from Rs 21684.50 million in FY-03 to Rs. 22420.30 million for the year ended December 31, 2004.

The Board of Directors has recommended a special dividend for the year 2004 of Rs 4.50 per equity shares, mainly out of accumulated profits, for approval of the shareholders.

The Register of Members and Share Transfer Books of the Company will remain closed from April 25, 2005 to April 29, 2005, both days inclusive for the purpose of Annual Closing and determining entitlement of shareholders to the special Dividend for 2004.

The Annual General Meeting of the Company will be held on April 29, 2005.

Further the Company has informed that the Board of Directors has recommended delisting of equity shares of the Company from the Delhi Stock Exchange, for the approval of the shareholders.

Commenting on the performance during 2004, Mr. Martial Rolland, Chairman and Managing Director of the Company stated, "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 organizational structure, improving penetration into newer territories and controlling costs. The fourth quarter of 2004 witnessed a more favourable growth."