Reuters
CHENNAI (Reuters) -Nestle India reported a near 66% increase in quarterly profit on Thursday, benefiting from price increases and strong demand for its chocolates and packaged foods in urban areas. The Maggi noodles maker's profit rose to 6.28 billion rupees ($75.98 million) for the fourth quarter ended Dec. 31, from 3.79 billion rupees in the year-ago period. Sales of chocolates and biscuits in India have defied recent inflationary pressures, analysts have said, as Nestle's KitKat chocolates and rival Britannia Ltd's Little Hearts biscuits are seen as affordable treats.