Nestle India Q2 net profit falls 4.3% to Rs 515.34 cr, net sales up 15.7%

FMCG major Nestle India Ltd on Thursday reported a decline of 4.31 per cent in its net profit at Rs 515.34 crore for the second quarter ended June 30, 2022.

The company, which follows the January-December financial year, had posted a net profit of Rs 538.58 crore in the corresponding period a year ago, Nestle India said in a regulatory filing.

However, Nestle India's net sales were up 15.72 per cent to Rs 4,006.86 crore during the period under review, as against Rs 3,462.35 crore a year ago, the company said.

Its total expenses in the April-June quarter were at Rs 3,355.59 crore, up 20.89 per cent, as against Rs 2,775.68 crore in the year-ago period.

Nestle India's domestic sales were up 16.44 per cent to Rs 3,848.44 crore, as against Rs 3,304.97 crore in the April-June quarter of 2021.

Its exports were marginally up 0.66 per cent to Rs 158.42 crore, as against Rs 157.38 crore in the corresponding quarter a year ago.

Shares of Nestle India were trading at Rs 18,762.95 apiece on BSE, up 1.18 per cent from its previous close.