Nestle India Q2 Profit Down, Sales Up: Maggi, Nescafe

New Delhi, Oct 17 (PTI) FMCG major Nestle India Ltd on Thursday reported a marginal decline of 0.94 per cent in its net profit at Rs 899.49 crore for the quarter that ended September 2024, in which it faced high commodity prices and some of its key brands faced softer consumer demand.

The company had posted a net profit of Rs 908.08 crore in the July-September period a year ago, according to a regulatory filing from Nestle India.

However, Nestle India's revenue from the sale of products was up 1.3 per cent to Rs 5,074.76 crore in the September quarter. It was at Rs 5,009.52 crore in the corresponding period last fiscal.

Its total expenses in the September quarter were up 3.42 per cent to Rs 4,090.09 crore.

Nestle India's domestic sales were up 1.23 per cent to Rs 4,883.14 crore, as against Rs 4,823.72 crore in the corresponding period of July-September.

Its revenue from exports was also up 3.13 per cent to Rs 191.62 crore in the September quarter.

Nestle India's revenue from operations, which includes other operating revenue, was at Rs 5,104 crore, up 1.33 per cent. It was at 5,036.82 crore in the previous September quarter.

Total Income Nestle India, which owns popular brands such as Maggi, Nescafe and Kit Kat was flat to Rs 5,110.86 crore as its revenue from other income sources was down.

Shares of Nestle India were trading at Rs 2,398 apiece in afternoon trade on BSE, down 2.61 per cent from its previous close.