Nestle India (NEST.NS) reported a 26% quarterly profit growth on Tuesday, driven by robust demand for packaged commodities like KitKat chocolates and Maggi instant noodles.
Shares of the business climbed 6.8% to 1,373.3 rupees following the results. Demand for consumer packaged goods in India has increased after a prolonged recession, thanks to reducing prices and tax cuts.
Nestle India reported a 23% increase in March quarter revenue to 67.48 billion rupees, its greatest domestic sales growth in nearly a decade. Nestle (NESN.S) India reported a net profit of 11.14 billion rupees ($119.12 million) for the fourth quarter ended March 31, up from 8.85 billion rupees a year earlier.
The company plans to increase capacity and sales volume, but has not set a specific date.