Nestle India registers Rs 263 crores profit in Q2

31 July 2017 | News | By NFS Correspondent

In the second quarter of 2017, Nestle India registered total sales worth Rs 2,469 crore, and its net profit after tax was Rs 263 crore. Its earnings per share (EPS) amounted to Rs 27.32.

 

The company’s board of directors declared a second interim dividend for 2017 of Rs 15 per equity share (the face value being Rs 10 per share), amounting to Rs 144.6 crore.

 

Total sales for the quarter increased by 7.3 per cent. Domestic sales increased by 8.8 per cent, mainly due to the increase in volumes supported by new product launches and rebuild of Maggi Noodles, supplemented by better realisations.

 

Growth was negatively impacted by softer trading in June ahead of the rollout of GST. Export sales dropped by 12 per cent, mainly due to the lower sales of milk and nutrition products to Bangladesh and the Middle-East.

 

The net profit increased by Rs 23 crore from the net profit of Rs 240 crore registered in the corresponding period the previous year.

 

The second interim dividend will be paid on and from August 16, 2017. This is in addition to the first interim dividend of Rs 15 per equity share, which was paid on June 2, 2017.

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