25-07-2024 11:27 AM | Source: Reuters
Nestle India misses June-quarter profit estimate as price hikes deter demand
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Nestle India reported a smaller-than-expected rise in its June-quarter profit on Thursday as price increases drove shoppers to cheaper rivals, hurting the company's sales volumes.
The Indian arm of the Swiss food giant Nestle reported a net profit of 7.47 billion rupees for the three-month period ended June, compared with 6.98 billion rupees a year earlier.
Analysts, on average, had expected a profit of 8.16 billion rupees, as per LSEG data.
Latest News
Centre launches portal for nurturing skill developme...
Hyundai, Kia`s Europe sales down 7.5 pc in October
AI-powered voice analysis may revolutionise early di...
Rohit Sharma to join Indian team in Australia on Sunday
Evening Roundup : A Daily Report on Bullion Energy &...
Buy Copper Above 825 SL Below 821 TGT 830/833 - Axis...
Over 9 in 10 Indian leaders anticipate an increase i...
Evening Track : Renewed Geopolitical uncertainty fue...
Mahayuti government is going to be formed: Shiv Sena...
Everything will get clear on the 23rd: BJPs Rahul Na...
