Nestle revenue rises 15% as net profit soars 37% to Rs 698.34 crore

On July 27, Nestle India Ltd. reported a consolidated net profit of Rs. 698.34 crore for the June quarter of FY24, up 368.8% from Rs. 510.24 crore in the corresponding quarter of FY23.

Profit for the quarter fell by 5.1% to Rs 736.64 crore, the company reported.

According to a regulatory statement from the FMCG major, the company's total revenue is Rs 4,658.53 crore, up 15.14 percent from Rs 4045.69 crore in the same quarter last year. Revenue dropped from Rs 4830.53 crore in the prior quarter by 3.56 percent.

Domestic sales growth is broad-based, with cautious pricing backed by mix and volume. Export sales climbed by 25.4%.

The company registered double-digit growth, driven by MAGGI Noodles and assisted by distribution expansion and significant customer activations, according to a press release by the company.

Source: Media Reports