Nestle India Q1 Profit Up 36% at Rs 424.03 Crore
On Friday, Nestle revealed that there was 35.98 per cent jump in profit at Rs 424.03 crore for the first quarter of 2018 that ended on 31st March.
Nestle follows January-December financial year. It has posted that they have obtained a profit of Rs 311.83 crore in the same period a year ago.
During the quarter under review, revenue from operations was at Rs 2,757.24 crore. The company informed that last year, revenue from operations stood at Rs 2,601.46 crore.
From July 2017, after the implementation of GST, the new indirect tax has not been recognised as part of sales. Thus it cannot be compared by the corresponding year-ago quarter.
Nestle also went on saying that the profit from operations in percentage of sales and net profit in percentage of sales are positively impacted as the percentages have been calculated on lower reported sales.
Nestle India Chairman and Managing Director, Suresh Narayanan has commented on the extraordinary performance of the company. He said that during the quarter the company had sustained its growth momentum, which is backed by broad volume-based growth across categories.