FMCG major Nestle India on Friday reported 49.95 per cent jump in net profit at Rs 395.03 crore for the second quarter ended June 30, helped by lower expenses.
The company, which follows January-December financial year, had posted a net profit of Rs 263.43 crore for the April-June quarter of 2017-18.
Total income during the quarter stood at Rs 2,758.63 crore. It was Rs 2,525.96 crore in April-June, 2017-18, Nestle said in a BSE filing.
The company said financial results for the reported quarter were not comparable as sales for the June quarter 2017 were reported gross of Excise Duty and net of value added tax (VAT)/sales tax. Excise duty was reported as a separate expense line item.
The company said its total sales and domestic sales increased 8.5 per cent and 8 per cent, respectively in the reported quarter.
Nestle India’s total expenses were up 1.49 per cent to Rs 2,163.32 crore as against Rs 2,131.39 crore in the same quarter a year ago. For the first half of 2018, the company’s net profit also went up 43.64 per cent to Rs 819.06 crore as against Rs 570.19 crore earlier. The total income during January-June, 2018-19 was at Rs 5,572.3 crore. It was Rs 5,159.46 crore in the same period a year ago.
Meanwhile, in a separate filing, Nestle said its Board of Directors had declared second interim dividend for 2017-18 of Rs 20 per equity share.
Titan Q1 net up 31% to Rs 349.17 crore
Tata Group firm Titan Company on Friday reported a 30.81 per cent jump in standalone net profit to Rs 349.17 crore for the first quarter ended June 30, 2018. The company had reported a net profit of Rs 266.91 crore in the April quarter a year-ago.
Total income during the quarter under review stood at Rs 4,354.52 crore. It was Rs 4,054.23 crore in the corresponding period last fiscal, Titan said in a BSE filing.
Zydus Wellness Q1 net profit up 1.8%
Consumer products firm Zydus Wellness on Friday reported a 1.8 per cent rise in its consolidated net profit to Rs 25.73 crore for the quarter ended June 30, 2018.
The company had posted a net profit after tax and non-controlling interests of Rs 25.27 crore for the corresponding period of the previous fiscal, Zydus Wellness said in a filing to BSE.