Nestle India Q3 net profit up by 37 per cent to Rs 908 cr; net sales up 9.43 per cent

New Delhi: FMCG major Nestle India Ltd on Thursday reported an increase of 37.28 per cent in net profit at Rs 908.08 crore for the third quarter ended September 30, 2023.

The company, which follows the January-December financial year, had posted a net profit of Rs 661.46 crore in the same period a year ago, Nestle India said in a regulatory filing.

Nestle India's net sales rose 9.43 per cent to Rs 5,009.52 crore during the period under review, as against Rs 4,577.44 crore in the corresponding period last fiscal, the company said.

Total expenses in the July-September quarter were at Rs 3,954.49 crore, up 5.92 per cent, as against Rs 3,733.12 crore in the corresponding period 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 2023.

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.