homeearnings NewsNestle India Q1 net profit rises 9% YoY to Rs 463.3 crore, misses estimates

Nestle India Q1 net profit rises 9% YoY to Rs 463.3 crore, misses estimates

Nestle India Q1 net profit rises 9% YoY to Rs 463.3 crore, misses estimates
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By Jomy Pullokaran  May 14, 2019 5:43:02 PM IST (Updated)

FMCG major Nestle India on Tuesday reported a net profit of Rs 463.3 crore for the first quarter ended March 31, 2019.

FMCG major Nestle India on Tuesday reported a 9.2 percent year-on-year (YoY) jump in net profit at Rs 463.3 crore for the first quarter ended March 31, 2019.

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In the corresponding quarter last year, the company posted a net profit of Rs 424.03 crore.
CNBC-TV18 Polls had predicted a profit of Rs 466 crore for the quarter under review. Nestle India follows a January-December financial year.
Revenue from operations was at Rs 3,003 crore during the quarter under review. It stood at Rs Rs 2,757 crore in the corresponding period last year, it added.
Total sales increased by 9.0 percent, while domestic sales grew 10.2 percent in the March quarter supported by volumes, it said. Export sales dropped by 8.9 percent due to lower coffee exports to Turkey.
The board of directors had declared on April 25, 2019, an interim dividend for 2019 of Rs 23.0 per equity share amounting to Rs 222 crore, which will be paid on and from May 15, 2019.
Suresh Narayanan, chairman and managing director, Nestle India said, "The market momentum remained strong, while the input costs have witnessed hardening. I am delighted to share that in line with our vision to provide exciting options rooted in nutrition, health and wellness, we will be launching Organic Food Products in the category 'Milk Products and Nutrition' in the coming months."
Shares of Nestle India ended at Rs 10,214.70, down Rs 101.85, or 0.99 percent on the BSE.
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