Nestle net profit declines 1.3% YoY to Rs 594.7 crore; revenue up 10.2%

Continued inflation could be a key factor in the short- to medium-term, Suresh Narayanan, chairman and managing director of Nestlé India, said, adding that cost of key raw and packaging materials are at 10-year highs, which has impacted profit from operations.

Nestlé India, which follows the January-December accounting year, saw its net profit decline 1.3 per cent year-on-year at Rs 594.7 crore. Its revenue from operations increased 10.2 per cent to Rs 3,980.7 crore in Q1.

“We have delivered double-digit domestic sales, driven by volume and mix,” Naryanan said in its earnings release.

“Our key brands continue to perform well