Nestle India Q1 net profit slips 1.25% to Rs 594.71 cr; net sales up 9.74%

FMCG major Nestle India Ltd on Thursday reported a 1.25 per cent decline in its net profit to Rs 594.71 crore for the first quarter ended March 2022.

The company, which follows January-December financial year, had posted a profit of Rs 602.25 crore in the same period a year ago, Nestle said in a BSE filing.

However, Nestle India's net sales increased 9.74 per cent to Rs 3,950.90 crore during the quarter against Rs 3,600.20 crore in the corresponding period last fiscal, the company added.

Its total expenses in the January-March quarter rose 12.98 per cent to Rs 3,195.90 crore compared to Rs 2,828.61 crore a year ago.

Nestle India's domestic sales surged 10.23 per cent to Rs 3,794.26 crore from Rs 3,442.03 crore in the January-March quarter of 2021.

Its exports were marginally down by 0.96 per cent at Rs 156.64 crore against Rs 158.17 crore in the year-ago quarter.

Shares of Nestle India Ltd were trading at Rs 18,089.60 apiece on BSE in the mid-session, up 1.22 per cent from its previous close.