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Nestle India Q2 profit falls YOY

Nestlé India Ltd. said its normalized net income for the second quarter was 25.38 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 28.51 rupees per share.

EPS decreased year over year from 25.86 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.45 billion rupees, a decrease from 2.49 billion rupees in the prior-year period.

The normalized profit margin fell to 10.2% from 11.0% in the year-earlier period.

Total revenue climbed 5.7% on an annual basis to 24.02 billion rupees from 22.72 billion rupees, and total operating expenses increased 6.3% year over year to 20.29 billion rupees from 19.09 billion rupees.

Reported net income rose 14.1% from the prior-year period to 2.63 billion rupees, or 27.32 rupees per share, from 2.31 billion rupees, or 23.94 rupees per share.

As of July 26, US$1 was equivalent to 64.34 Indian rupees.