Nestle India Q3 net profit dips marginally to Rs 587 cr; sales rise 10%

FMCG major Nestle India Ltd on Friday saw its net profit dipping marginally by 1.37 per cent to Rs 587.09 crore in the third quarter ended September 2020.

The company, which follows January-December financial year, had posted a profit of Rs 595.27 crore in the July-September quarter a year ago, Nestle India said in a BSE filing.

Its net sales were up 10.19 per cent at Rs 3,525.41 crore during the period under review as against Rs 3,199.31 crore in the corresponding quarter of the last fiscal, the company said.

Nestle India's domestic sales in July-September moved up 10.23 per cent to Rs 3,350.10 crore as against Rs 3,039.09 crore in the year-ago period.

Exports rose 9.41 per cent to Rs 175.31 crore as against Rs 160.22 crore.

Its total expenses were up 8.44 per cent at Rs 2,789.67 crore as against Rs 2,572.52 crore.

Shares of Nestle India on Friday settled at Rs 15,863.00 on the BSE, down 0.30 per cent from the previous close