Nestle India

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FMCG major Nestle India Ltd on Thursday reported a 1.25 per cent decline in its net profit to Rs 594.71 crore for the first quarter ended March 2022. The company, which follows January-December financial year, had posted a profit of Rs 602.25 crore in the same period a year ago, Nestle said in a BSE filing. However, Nestle India's net sales increased 9.74 per cent to Rs 3,950.90 crore during the quarter against Rs 3,600.20 crore in the corresponding period last fiscal, the company added. Its total expenses in the January-March quarter rose 12.98 per cent to Rs 3,195.90 crore compared to Rs 2,828.61 crore a year ago. Nestle India's domestic sales surged 10.23 per cent to Rs 3,794.26 crore from Rs 3,442.03 crore in the January-March quarter of 2021. Its exports were marginally down by 0.96 per cent at Rs 156.64 crore against Rs 158.17 crore in the year-ago quarter. Shares of Nestle India Ltd were trading at Rs 18,089.60 apiece on BSE in the mid-session, up 1.22 per cent from its ..

Nestle Q1 result: The management remains cautious of continued inflation as it shadows short-to-medium term growth outlook.

Nestle increased the use of bigger size vehicles from 5.9 per cent in 2019 to 9.8 per cent in 2021 and started using railways, which was not used in 2019. It also introduced four waterways in 2021.

Food and commodity inflation is here to stay for a while and remains a cause of concern, said Nestle India Chairman and Managing Director Suresh Narayanan on Thursday.

Smaller contribution of 20-25% from rural sales helped; net profit down 20% due to exceptional item

Here are the top headlines on Thursday

Commenting on the annual performance, Nestl India Chairman and Managing Director Suresh Narayanan said, '2021 was a very challenging year'

HDFC (up 1.7 per cent), Reliance Industries (1.2 per cent), and Power Grid (0.56 per cent) were the top large-cap gainers today

In the last 20 days, AICPDF had written two letters to FMCG companies to resolve the issue of price disparity.

FMCG major Nestle India on Tuesday said it has received approval from the government for the production-linked incentive (PLI) scheme for processed fruits and vegetables. In June 2021, the company had submitted its proposal towards the Indian government's PLI for the food processing sector under the eligible categories of ready-to-eat/ready-to-cook and processed fruits and vegetables, Nestl India said in a regulatory filing. It further said that on December 6, 2021, the company has "received communication from the Government of India that its proposal with respect to processed fruits and vegetables has been approved". Thanking the government for the approval, Nestl India said it has "always believed that the PLI scheme for the food processing sector will help farmers and the food processing industries". It is overall a good step for an industry that has one of the better ratios of capital investment and employment generation, the company said. The food processing ministry on Monda

Stock market LIVE: All sectoral indices barring telecom ended in the the negative zone; Declining stocks out-numbered advancing shares in the ratio 2:1 on the BSE

Organised trade witnessed a resurgence in the third quarter with strong revenue growth in mid-twenties after a muted second quarter which was impacted by the second wave of COVID-19.

The market breadth also favoured sellers amid profit-booking in the broader markets. The BSE MidCap and SmallCap indices ended nearly 2 per cent down each

Says 2022 going to be difficult year on higher commodity prices

Nestle India chief Suresh Narayanan said that 2022 will likely be a "difficult year" as commodity prices are expected to rise and result in the spectre of food inflation for the manufacturers.

On July 29, 2021 the board approved scheme of arrangement, which envisages the transfer of the entire balance of Rs 837.43 crore standing to the credit of the general reserve to the retained earnings