Nestle India net profit declines 4.3% to Rs 515.3 cr in April-June qtr

Nestle India, which makes Maggi noodles, KitKat chocolate, sees 'early signs of softening' in sale of some commodities

Nestle India on Thursday reported a net profit of Rs 515.3 crore in the April-June quarter, down 4.3 per cent from last year. The consumer goods firm’s revenue from operations was Rs 4,036.6 crore, up 16.1 per cent.

“The growth is broad based and while being primarily driven by pricing, [it] has a healthy underlying volume and mix evolution. I am also happy to share that the ‘out of home’ space got back to accelerated growth in channels like hotels, education centres and workplaces,” said Suresh Narayanan, chairman and managing director of Nestle India, which makes Maggi noodles and KitKat