Nestle India Q3 net profit up 19.50%

During the quarter under review,the company’s net sales stood at Rs 1,963.10 crore,up 19.89 per cent from Rs 1,637.30 crore posted in the year-ago period.

The firm attributed the growth to recent expansion of its manufacturing capacities,enhancement of sales channels and management of price despite high inflation.

“We have again for the 19th consecutive quarter delivered double digit profitable growth. Whilst we continue to build our position for the future,our expansion of manufacturing capacities is providing market share gains to our already strong market positions,” Nestle India Chairman and Managing Director Antonio Helio Waszyk said in a statement.

During the quarter,the firm said domestic sales have increased by 20.7 per cent to Rs 1877.15 crore.

He said Nestle has strengthened its position despite volatile and uncertain environment through optimisation of portfolio,prioritisation of sales channels and management of price

Export revenues during the quarter stood at Rs 85.95 crore,up 4.5 per cent from the year-ago period.

The company said its export was adversely impacted by the ban on exports of milk powder.

Scrips of Nestle India closed at Rs 4,498.65 per share on the BSE,up 1.83 per cent from the previous close.

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