Nestle Results: FMCG major Nestle India on Thursday said its net profit declined 1.25 per cent to Rs 594.71 crore for the quarter ended March 2022 due to cost escalation. The company had reported a profit of Rs 602.25 crore in the same period last year. Notably, the company follows January-December as its financial year.
Nestle India’s expenditure also increased
Nestle India told the stock exchange that its net sales grew 9.74 per cent to Rs 3,950.90 crore during the period under review as against Rs 3,600.20 crore in the same period last year. The company said that its total expenses during the January-March quarter grew by 12.98 per cent to Rs 3,195.90 crore as against Rs 2,828.61 crore in the corresponding period of the previous year.
Nestle India’s domestic sales rise
Nestle India’s domestic sales grew 10.23 per cent to Rs 3,794.26 crore from Rs 3,442.03 crore in the same period last year and exports declined 0.96 per cent to Rs 156.64 crore from Rs 158.17 crore in the same period last year.
Nestle India increased prices of Maggi in March
Let us inform that in March itself, the company had increased the prices of Maggi and has reduced the price of Maggi of Rs.12 to Rs.14. Nestle had increased the prices of Maggi by 9 to 16 percent, which is applicable from March 14.
12’s Maggi became 14’s
A 70-gram packet of masala noodles is now getting Rs.14 instead of Rs.12. The prices of Maggi have increased by Rs. At the same time, the price of 140 grams packet of Maggi has increased by Rs 3 and the price of 560 grams packet has increased by about 9.4 percent, after which its price has increased from Rs 96 to Rs 105.