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MUMBAI: Fast-moving consumer goods company Nestle India is likely to report a 12 per cent year-on-year rise in net profit to Rs 589 crore for the quarter ended March, an average of estimates by eight brokerages showed.
The company is also expected to report a strong 8.2 per cent on-year growth in revenues in the quarter to Rs 3,598.1 crore, an analysts’ poll showed. Nestle India considers January-December as its financial year.
Nestle India will report its first quarter earnings on Tuesday.
The company’s strong topline growth will be largely due to the broad-based growth expected in the domestic market despite the handicap of a strong quarter in a year ago. Brokerage firm Axis Securities expects the company’s domestic revenues to grow 9 per cent led by 7 per cent rise in volumes and 2 per cent increase in prices.