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Nestle India posts 37% YoY rise in June quarter profit.

27 Jul 2023, 10:10 am

Nestle India, the FMCG major, released its June quarter numbers on Thursday. The company also announced that it has changed its financial year to the April-March cycle. Till now, the company followed a calendar-year cycle. For the quarter under review, the company reported a 36.86 per cent rise in its net profit to Rs 698.34 crore, compared to Rs 510.24 crore logged in the year-ago period. On a sequential basis, the figure slipped 5.1 per cent. Revenue from operations came in at Rs 4,658.53 crore, up 15 per cent against Rs 4,045.69 crore logged in the year-ago period.

Commenting on the results, Suresh Narayanan, Chairman and Managing Director, of Nestlé India, said, "I am pleased to share that we have, yet again, delivered robust performance, with all product groups registering double-digit growth. This is the fifth quarter in a row of double-digit growth across ALL product groups. Domestic sales growth is broad-based and grew by 14.6 per cent, on the back of prudent pricing and supported by mix and volume with targeted brand support. Key brands continued to perform well, led by KITKAT, NESCAFÉ, and MAGGI, among others.

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