25-07-2024 11:27 AM | Source: Reuters
Nestle India misses June-quarter profit estimate as price hikes deter demand
News By Tags | #StockMarket #NestleIndiaLtd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the 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.