Nestle India Q3 net profit down 60 per cent yoy at Rs 124.20 cr after Maggi row

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Updated: October 29, 2015 5:40:16 PM

Nestle India on Thursday announced that its net profit for the third quarter ended September 30, 2015 declined 60 per cent to Rs 124.20 cr.

nestle indiaNestle India Q3: Net total Income from operations of Nestle India fell 32.2 per cent YoY to Rs 1,742.36 crore for the quarter ended September 30, 2015. (Photo: Reuters)

Nestle India on Thursday announced that its net profit for the third quarter ended September 30, 2015 declined 60 per cent year-on-year to Rs 124.20 cr impacted by Maggi noodles controversy. The company posted net profit of Rs 311.29 crore in the corresponding quarter a year ago.

Net total Income from operations of Nestle India fell 32.2 per cent YoY to Rs 1,742.36 crore for the quarter ended September 30, 2015 from Rs 2,570.42 crore in the corresponding quarter a year ago.

Net sales for the quarter fell largely due to the impact of Maggi Noodles issue. Net domestic sales decreased by 33.8 per cent.

“Export sales decreased by 6.4 per cent which is impacted by Maggi noodles issue and lower sales to Nepal due to blockage of border in the last week of September 2015, ” the company’s said in a BSE filing.

Total expenditure of the company decreased 26.69 per cent YoY to Rs 1,544.98 crore.

Earnings per share stood at Rs 12.88 as against Rs 32.28 recorded in the same period of the previous year.

Share price of Nestle India slid 0.69 per cent to Rs 6282.10 on BSE on Thursday.

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