Swiggy Reports ₹625.5 Cr Net Loss in Q2 Despite Revenue Growth
Nestle Q2 Results: Profit Slips 0.94% to ₹899.49 Crore, Net Sales Rise 1.3%
Last Updated: 17th October 2024 - 04:26 pm
Nestlé India Chairman and Managing Director, Suresh Narayanan, noted that some key brands faced pressure due to softer consumer demand. However, over the past nine months, 65% of its top 12 brands, including MAGGI noodles, have shown positive volume growth.
Nestle Q2 Results: Results Highlights
- Revenue: Up 1.3% to ₹5,074.76 crore.
- Net Interest Income: increased by 13% to ₹3,410 crore from ₹3,021 crore year-on-year
- Gross Non-Performing Assets (NPA): 4.59%, reflecting a 3 basis point improvement year-on-year.
- Total business for the bank grew by 7.07% to ₹644,858 crore, compared to ₹602,284 crore a year earlier.
- Total deposits rose by 5.57% to ₹391,914 crore, while CASA deposits increased by ₹8,432 crore to ₹191,270 crore.
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Stock Market Reaction
Shares of Nestle India declined 3.50% to currently trade at ₹2,376 on the BSE.
About Nestle India Ltd
Nestle India Ltd (Nestle India), a subsidiary of Nestle SA, specializes in the manufacturing, marketing, and sale of consumer food and beverages. Its diverse product portfolio includes dairy products, nutritional items, beverages, prepared dishes and cooking aids, chocolates, and confectionery.
Nestle India operates manufacturing plants and branch offices throughout the country and exports its products to several international markets, including the US, Australia, Singapore, and New Zealand. The company is headquartered in Gurgaon, Haryana, India.
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