Nestle India net profit up 30% in September quarter

Continuing with its strong growth momentum, Nestle India recorded a 30 percent increase in net profit to ₹446 crore in the quarter ended September 30, from ₹343 crore in the corresponding quarter previous year. The company follows the January-December financial year.

For the quarter under review, revenue from operations grew by 17 percent to ₹2,939 crore (₹ 2,514 crores). “ Total sales and domestic sales for the quarter increased by 16.8 percent and 17.5 percent respectively supported by broad-based volume growth on a base quarter in which GST was implemented,” the company said in a statement.

Suresh Narayanan, Chairman & Managing Director, Nestle India said, “The quarter has witnessed another strong performance from the organization, as we continue to deliver broad-based volume-driven growth.” He said that the company has stepped up marketing activities in a bid to strengthen its brands. “We are witnessing headwinds in commodity and crude oil prices coupled with currency depreciation,” Narayanan added.

The company, which has been on a product launch spree, recently launched Nescafe-E coffee machine, Special Masala variant for Maggi Noodles and Maggi Dip and Spread.

Source:-https://www.thehindubusinessline.com/companies/nestle-india-net-profit-up-30-per-cent-in-q2/article25337635.ece

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