On Friday, FMCG major Nestle India Ltd. reported a marginal 1.3 per cent fall in its net profit at Rs 587 crore for the third quarter ended on September 30.
The company follows January-December financial year and it had posted a net profit of Rs 595.27 crore in the September quarter a year-ago, said Nestle India in a stock exchange filing. During the quarter, its net sales increased 10 per cent to Rs 3,525.41 crore, compared to Rs 3,199.31 crore in the corresponding quarter previous year, it added.
In July-September quarter, domestic sales of the company was 10.23 per cent up at Rs 3,350.10 crore, against Rs 3,039.09 crore in the previous year period. Total expenses for the period rose 8 per cent to Rs 2,789.67 crore as compared to Rs 2,572.52 crore in the year-ago period. Exports was also 9 per cent up at Rs 175.31 crore during the quarter against Rs 160.22 crore in the same period last year.
Nestle India announced an interim dividend of Rs 135 per share to shareholders. The company is planning to invest further Rs 2,600 crore over the period of next three to four years in India, it added.
Suresh Narayanan, MD & Chairman, Nestle India commenting on company’s performance said, “We continued our strong performance in the e-commerce channels, which grew by 97% and now contributes about 4% of domestic sales.”
On Friday, Shares of Nestle India Ltd. settled 0.3 per cent down from its previous close, at Rs 15,863.00 on BSE.