Nestle India’s Q1 net profit surges 24.7% to Rs 736.64 crore, while net sales rise 20.3% to Rs 4,808.40 crore.
- ByStartupStory | April 26, 2023
Nestle India Ltd has announced a surge of 24.69% in its net profit for the Q1 ending March 31, 2023, with a figure of Rs 736.64 crore. The FMCG giant, which operates on a January-December financial year, recorded a net profit of Rs 590.77 crore during the corresponding quarter in the previous year. This update was disclosed in a regulatory filing by Nestle India.
According to Nestle India’s latest financial report, the company’s net sales grew by 20.43% to reach Rs 4,808.40 crore in the reviewed period, compared to Rs 3,962.84 crore in the corresponding period of the previous fiscal year. Meanwhile, the company’s total expenses rose by 20.61% to reach Rs 3,873.76 crore, up from Rs 3,211.78 crore in the same period last year. The report also showed that Nestle India’s domestic sales increased by 21.18% to Rs 4,612.73 crore in the January-March period of this year, compared to Rs 3,806.20 crore during the same period in 2022.
Nestle India’s exports saw a significant increase of 24.91%, reaching Rs 195.67 crore during the period under review, compared to Rs 156.64 crore in the corresponding quarter of the previous year. At present, the shares of Nestle India Ltd were trading at Rs 20,770.70 apiece on BSE on Tuesday afternoon, reflecting a 0.51% increase from the previous closing price.
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