FMCG major Nestle India Ltd on Thursday reported an increase of 36.86 per cent in its net profit at Rs 698.34 crore for the second quarter ended June 30.
The company, which follows the January-December financial year, had posted a net profit of Rs 510.24 crore in the same period a year ago.
Nestle will be extending this financial year till March 31, the company said in a regulatory filing.
Nestle India’s net sales rose 15.02 per cent to Rs 4,619.50 crore from Rs 4,015.98 crore a year ago.
Total expenses in the April-June quarter were at Rs 3,743.15 crore, up 11.07 per cent, as against Rs 3,369.81 crore in the corresponding period a year ago.
Nestle India’s domestic sales were up 14.6 per cent to Rs 4,420.77 crore, as against Rs 3,857.56 crore in the June quarter of 2022.
ArcelorMittal
Global steel giant ArcelorMittal on Thursday posted over 50 per cent decline in its net income at $1,860 million in the April-June quarter. The company had posted a net income of $3,923 million a year ago.
The Luxembourg-based integrated steel and mining company follows the January-December fiscal year.
ArcelorMittal’s net income for January-June was also down manifold at $2,956 million as compared to $8,048 million in H1 2022.
Total steel shipments in the second quarter (April-June) of 2023 were 1.2 per cent lower compared with 14.4mt in 2Q 2022, and 1.7 per cent lower from 14.5mt in the first quarter of this year.
ACC profit jumps
Cement maker ACC Ltd on Thursday reported a two-fold jump in consolidated net profit at Rs 466.14 crore for June quarter, helped by volume increase, softening of kiln fuel price and improvement in operational efficiency.
The company had posted a profit of Rs 227.35 crore for April-June period a year ago, said ACC, now a part of Adani Cement. Total revenue from operations was at Rs 5,201.11 crore against Rs 4,460.42 crore a year ago.
Bajaj Finserve
Bajaj Finserve on Thursday reported a robust 48 per cent jump in consolidated net income to Rs 1,943 crore on margin and asset expansion which boosted income by almost 50 per cent year-on-year in the June quarter.
The bottom line surge was led by the group flagship Bajaj Finance, which clocked a net income of Rs 3,437 crore, up 32 per cent from Rs 2,596 crore in the 12 trailing months period.
