Fast-moving consumer goods major Nestle India on Monday posted a 2.3% year-on-year rise in net profit at Rs. 267 crore during the July-September quarter against R261 crore in the year-ago period, the company said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company rose at Rs. 2,116 crore during the quarter compared to Rs. 1,963 crore in the corresponding period of the previous fiscal.
Net domestic sales have increased by 7.6% mainly on account of net realisations and product mix, the company said in a statement.
"Domestic sales growth during the quarter has been adversely impacted by portfolio/channel optimisation and pricing for value in certain products," it added.
Shares of the company closed down 0.9% at Rs. 4,820 on the BSE.