business & economics

Maggi, Nescafe Sales Help Nestle Achieve 11% Increase In Profits

BP World Bureau | Jul 29 2020
Image credits: pinterest

NEW DELHI: Nestle India reported an 11.15% increase in its net profit for the quarter ended June due to the sales of Maggi and milk and coffee products amidst the COVID-19 outbreak and lockdown.

The profit was also due to the lower taxes. PAT (profit after tax) for the April-June quarter of 2020 stood at Rs 486.6 crore, against Rs 437.8 crore recorded during the same period in 2019.

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The company also saw stresses, volatility, and uncertainty during this period, Suresh Narayanan, Chairman and Managing Director, Nestle India.