Nestle India Q3 net profit up 30% to Rs 446 crore

Nestle India Ltd, the maker of Maggi instant noodles and Kit-Kat chocolates, has reported a 30% increase in net profit to Rs 446 crore in the quarter ended September 30, compared with Rs 343 crore a year earlier.

The company said, "For the quarter under review, revenue from operations grew by 17 per cent to Rs 2,939 crore. Total sales and domestic sales for the quarter increased by 16.8 per cent and 17.5 per cent respectively supported by broad-based volume growth on a base quarter in which GST was implemented."

Suresh Narayanan, Chairman & Managing Director, Nestle India said, "The quarter has witnessed another strong performance from the organisation, as we continue to deliver broad-based volume driven growth." 

"The company has stepped up marketing activities in a bid to strengthen its brands. We are witnessing headwinds in commodity and crude oil prices coupled with currency depreciation," he added.

Recently, Nestle launched Nescafe-E coffee machine, Special Masala variant for Maggi Noodles, and Maggi Dip and Spread.