Last updated: April 25, 2023, 12:09 AM IST
FMCG major Nestle India Ltd on Tuesday reported a 24.69 percent increase in its net profit to Rs 736.64 crore for the first quarter ended March 31, 2023.
The company, which follows its January-December financial year, had posted a net profit of Rs 590.77 crore in the same period a year ago, Nestle India said in a filing.
Nestle India’s net sales increased by 20.43 percent during the reporting period to Rs 4,808.40 crore from Rs 3,962.84 crore in the corresponding period of the previous financial year, the company said.
Total spending in the January-March quarter was Rs 3,873.76 crore, an increase of 20.61 percent, compared to Rs 3,211.78 crore in the corresponding period a year ago.
Domestic sales of Nestle India rose 21.18 percent to Rs 4,612.73 crore from Rs 3,806.20 crore in January-March 2022 period.
Exports rose 24.91 percent to Rs 195.67 crore, compared to Rs 156.64 crore in the corresponding quarter a year ago.
Shares of Nestle India Ltd traded at Rs 20,770.70 each on BSE in the afternoon on Tuesday, up 0.51 percent from the previous close.
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(This story has not been edited by News18 staff and was published from a syndicated news agency feed)