Nestle India reported a 10.68 percent rise in net profit to Rs 538.58 crore for the quarter ended June 30. The company had posted a net profit of Rs 486.60 crore for the corresponding period a year ago.
Its total income increased 13.53 percent to Rs 3,506.17 crore in the quarter from Rs 3,088.41 crore in the year-ago period. That was on the back of total domestic sales of Rs 3,304.97 crore, up 13.66 percent on a year-on-year basis.
Exports came in at Rs 157.38 crore against Rs 133.71 crore a year ago.
Total expenses rose 13.94 percent to Rs 2,775.68 crore, including a 23.80 percent increase in the cost of materials consumed.
Nestle's earnings per share were at Rs 55.86 in the quarter ended June , against Rs 62.46 in the previous three-month period and Rs 50.47 in the quarter ended June 2020.
The company said the growth in its total and domestic sales was due to a base impacted by the Covid-19-induced lockdown with production disruptions across factories. The growth in domestic sales was driven by volume and mix.
Nestle said its key products such as Maggi noodles, Kitkat, Nestle Munch, Maggi sauces and Maggi Masaalae Magic posted strong double-digit growth.
Nestle India shares ended 1.24 percent lower at Rs 18,012.60 apiece on BSE ahead of the earnings announcement. The stock underperformed the S&P BSE Sensex benchmark, which ended 0.26 percent lower at 52,443.71.
(Edited by : Jerome Anthony)