Nestle India net up 11 per cent

Mumbai: 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 2019, led by sales and volume growth. Net sales during the quarter under review were up 11.35 per cent at Rs 2,982.83 crore as against Rs 2,678.57 crore in the year-ago period, it said.

"We have now delivered 10 straight quarters of volume and mix led growth. Our continuing momentum is a testimony to the unrelenting efforts of our employees, partners and other stakeholders, as well as to our quest for consumer relevant, science based innovation and renovation,"Nestle India Chairman and MD Suresh Narayanan said. Total expenses were at Rs 2,414.29 crore in the latest quarter as against Rs 2,163.32 crore a year ago. Revenue from domestic sales in April-June 2019 was at Rs 2,835.37 crore, up 13.08 per cent from Rs 2,507.33 crore a year earlier.

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