Nestlé India's Net Profit Climbs by 6.9% in Q2 Amidst Challenging Market Conditions

Nestlé India Ltd reported a net profit of Rs 746.60 crore for the quarter ending June 2024, up 6.9% from the previous year. Revenue from product sales grew by 3.75% despite external challenges like lower market consumption and commodity price volatility. Domestic and e-commerce sales witnessed significant growth.

FMCG major Nestlé India Ltd reported a 6.9% increase in net profit, amounting to Rs 746.60 crore for Q2 2024, compared to Rs 698.34 crore in the same period last year, according to a regulatory filing.

The company's revenue from product sales rose by 3.75% to Rs 4,792.97 crore, despite facing challenges such as lower market consumption growth and fluctuating commodity prices.

Chairman and Managing Director Suresh Narayanan noted that nearly a quarter of this growth was driven by mix and volume. E-commerce sales contributed 7.5% of domestic revenue, while organised trade channels and the Out of Home segment also showed robust performance.

(With inputs from agencies.)