FMCG major Nestle India Ltd on Thursday reported a 37.28 per cent jump in its net profit to Rs 908.08 crore for the third quarter ended September 30, 2023. Its net sales during July-September 2023 grew 9.43 per cent to Rs 5,009.52 crore, compared with Rs 4,577.44 crore in the year-ago period.
Nestle India, which follows the January-December financial year cycle, had posted a net profit of Rs 661.46 crore in the corresponding period last year, Nestle India said in a regulatory filing.
The company’s total expenses during the September 2023 quarter rose 5.92 per cent to Rs 3,954.49 crore, against Rs 3,733.12 crore a year ago.
Nestle India’s domestic sales were up 10.33 per cent to Rs 4,823.72 crore, as against Rs 4,371.99 crore in the September quarter of 2022. However, its exports were down 9.56 per cent to Rs 185.80 crore, as against Rs 205.45 crore in the corresponding quarter a year ago.
Its revenue from operations, which includes other revenue, was at Rs 5,036.82 crore, up 9.45 per cent in the September quarter of FY24.
Shares of Nestle India Ltd were trading at Rs 23,502.50 apiece on BSE in the morning trade on Thursday, up 1 per cent from the previous close.
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