Nestle India Q2 Results: Net Profit Falls 1% to Rs 899.5 Crore, Shares Down Over 3%

Nestle India on Thursday reported a 0.94 per cent drop in its consolidated to Rs 899.49 crore for the second quarter ended September 30, compared with Rs 908.08 crore a year ago, according to a BSE filing. However, its total income during July-September 2024 rose to Rs 5,110.86 crore, against Rs 5,070.09 in the year-ago period, according to a BSE filing.

The Indian arm of Swiss food major Nestle reported profit before exceptional items and tax of Rs 1,021 crore for the second quarter ended September 30, compared with Rs 1,116 crore a year earlier.

Overall expenses increased 3.4% to Rs 4,090 crore in the quarter.

Suresh Narayanan, chairman and managing director of Nestlé India, said, “Despite a challenging external environment with muted consumer demand and high commodity prices especially for coffee and cocoa, we remained resilient in our pursuit to deliver growth. This quarter, 5 of our top 12 brands grew in double digits. However, some key brands witnessed pressure due to softer consumer demand and we focus on them and have in place robust action plans. It is heartening to note that in the last 9 months, 65 per cent of our top-12 brands including MAGGI noodles showed positive volume growth.”

Following the results, shares of Nestle India fell Rs 74.25 or 3.05 per cent to Rs 2,387 apiece on the BSE.

The Board of Directors has approved Manish Tiwary’s appointment as ‘Non-retiring Director’ and ‘Managing Director’ of the Company with effect from August 1, 2025, for a term of five consecutive years, subject to approval of the shareholders.

“To ensure a smooth transition due to Suresh Narayanan’s retirement as Chairman and Managing Director of the Company on 31st July 2025, the Board of Directors has decided that Manish Tiwary will commence his role at Nestlé India as Managing Director (Designate) starting 1st February 2025, taking on full responsibilities as Managing Director w.e.f. 1st August 2025,” Nestle India said in the BSE filing.

Parent Nestle SA said earlier in the day it is revamping senior leadership and its operating structure, and cut its full-year sales outlook.

Nestle India’s products range from Maggi instant noodles to KitKat chocolates and Nescafe beverages.