Nestle's Q2 Earnings Beat Street's Estimates On Higher Price, Demand; Should You Buy? - News18
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Nestle Share Price: Nestle India reported second-quarter earnings above estimates on Thursday, benefitting from price increases and demand for its chocolates and packaged foods, including Maggi noodles. Nestle India reported a net profit of Rs 698.34 crore for the quarter ended on June 30, 2023, a jump of 37 per cent on a year-on-year (YoY) basis. The company had clocked a profit bottomline of Rs 510.24 crore in the same quarter a year ago, the company said in its statement. At 11:50 am, Nestle Ind was trading at Rs 22447.8, up 0.53 per cent from yesterday’s close. Nestle India’s revenue from operations increased about 17 per cent on YoY basis 4,658.5 crore in the June 2023 quarter, which was Rs 4,045.7 crore in the same quarter previous year, the company statement added. The results are in-line with the street’s expectations. “We have delivered a robust performance, with all product groups registering double digit growth. This is the fifth quarter in a row of double-digit...