Business News | Nestle India Q2 Net Profit Up 11 Pc to Rs 539 Crore
Get latest articles and stories on Business at LatestLY. FMCG major Nestle India on Wednesday reported 11 per cent year-on-year rise in its net profit to Rs 539 crore for the quarter ended June.
Mumbai (Maharashtra) [India], July 28 (ANI): FMCG major Nestle India on Wednesday reported 11 per cent year-on-year rise in its net profit to Rs 539 crore for the quarter ended June.
The company's revenue from operations rose 14 per cent to Rs 3,462 crore in the April to June quarter. The company follows a January to December financial year.
During the quarter, the company's domestic sales grew 13.7 per cent on-year. Domestic and export sales achieved double-digit growth largely driven by volume and product mix.
"Our efforts to ensure last mile access were aided by e-commerce and in particular hyperlocal (quick commerce) channels, which grew by 147 per cent in the first half of this year," said Chairman and Managing Director Suresh Narayanan.
Last year, Nestle India had decided to invest Rs 2,600 crore over a three to four-year period. Of this, it has already invested Rs 1,000 crore so far. "This is a vindication of our confidence and trust in the Nestle journey in India." (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)