Nestle India's net profit rises 11% pc to Rs 438 cr in June quarter

The company, which follows January-December as its financial year, posted a net sales of Rs 2,982.83 crore

FMCG major Nestle India on Friday reported an increase of 10.83 per cent in net profit to Rs 437.84 crore for the second quarter ended June 30, led by sales and volume growth.

The company, which announced to invest around Rs 700 crore to set up a new factory in Sanand, Gujarat, had reported a profit of Rs 395.03 crore in the corresponding period of 2017-18.

Nestle would manufacture its range of popular instant noodles Maggi in the new factory and generate employment for around 400 persons, in which half of the strength would be women, it said in a statement.

The company,