New Delhi, Apr 25 (PTI) FMCG major Nestle India Ltd on Tuesday reported an increase of 24.69 per cent in its net profit at Rs 736.64 crore for the first quarter ending March 31, 2023.

The company, which follows the 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 regulatory filing.

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Nestle India's net sales rose 20.43 per cent to Rs 4,808.40 crore during the period under review, as against Rs 3,962.84 crore in the corresponding period last fiscal, the company said.

Its total expenses in the January-March quarter were at Rs 3,873.76 crore, up 20.61 per cent, as against Rs 3,211.78 crore in the corresponding period a year ago.

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Nestle India's domestic sales were up 21.18 per cent to Rs 4,612.73 crore, as against Rs 3,806.20 crore in the January-March period of 2022.

Its exports were up 24.91 per cent to Rs 195.67 crore, as against Rs 156.64 crore in the corresponding quarter a year ago.

Shares of Nestle India Ltd were trading at Rs 20,770.70 apiece on BSE in the afternoon on Tuesday, up 0.51 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)