Nestle India profit plunges 17 percent despite revenue growth

ByEnigma 808

Nestle India reported a 17 percent drop in net profit for the July-September period, earning Rs 743 crore. However, the company’s revenue grew 11 percent to Rs 5,643 crore. Costs went up by 13 percent to Rs 4,617 crore. Despite the profit drop, Nestle’s sales went up by 10.9 percent, driven by steady demand in India, with the Maggi maker’s domestic sales increasing by 10.8 percent.

The Milk Products and Nutrition sector had mixed results, but the company is hopeful for improvement in some areas. Meanwhile, NESCAFE’s growth continued strong, with more market share and higher household use in the Powdered and Liquid Beverages category.

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.