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Nestle India has posted a net profit of ₹231 crore for the quarter ended June 30. The company had posted a net loss of ₹64.4 crore in the corresponding quarter last year.
Net sales for the second quarter grew by 16.7 per cent to ₹2,256 crore for the period under review. “Net sales for the quarter, increased by 16.7 per cent, on a base impacted by the Maggi Noodles issue. While domestic sales increased by 17.5 per cent, exports increased by 7 per cent,” the company said in a statement.
The company, which follows the January-December period as the financial year, said that results for the quarter were not entirely comparable with the corresponding period due to the Maggi Noodles issue in 2015.
The company’s board has declared a second interim dividend of ₹12 per share amounting to ₹115.7 crore to be paid August 19 onwards. “This is in addition to the first interim dividend of ₹12 per equity share paid on May 31,” the company said.
In a statement, Suresh Narayanan, Chairman and Managing Director, Nestlé India said: “It is heartening to see Maggi Noodles rebound to market leadership of about 57 per cent after its reintroduction last November.”
Nestle India’s shares closed at ₹7,165.60 down 0.79 per cent on the BSE on Friday.
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