(Photo: Reuters)
(Photo: Reuters)

Nestle India June quarter net profit rises 11% to 438 cr

  • Net sales during the quarter under review were up 11.35% at 2,982.83 crore
  • Revenue from domestic sales in April-June 2019 was at 2,835.37 crore, up 13%

New Delhi: FMCG major Nestle India on Friday reported an increase of 10.83 per cent in net profit to 437.84 crore for the second quarter ended June 2019, led by sales and volume growth.

The company, which follows January-December as financial year, had posted a profit of 395.03 crore for April-June 2018.

Net sales during the quarter under review were up 11.35 per cent at 2,982.83 crore as against 2,678.57 crore in the year-ago period, Nestle said in a BSE filing.

"We have now delivered 10 straight quarters of volume and mix led growth. Our continuing momentum is a testimony to the unrelenting efforts of our employees, partners and other stakeholders, as well as to our quest for consumer relevant, science based innovation and renovation,"Nestle India Chairman and MD Suresh Narayanan said.

Total expenses were at 2,414.29 crore in the latest quarter as against 2,163.32 crore a year ago.

Revenue from domestic sales in April-June 2019 was at 2,835.37 crore, up 13.08 per cent from 2,507.33 crore a year earlier.

Exports were down 13.88 per cent to 147.46 crore as against 171.24 crore earlier.

Shares of Nestle India on Friday settled at 11,427.85 apiece on BSE, down 1.01 per cent from the previous close.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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