Nestlé India Profit Jumps 46% as Tax Cuts Boost Packaged Food Demand
Nestle India posted a 46% increase in quarterly profit on Friday, aided by higher demand for packaged food items, including Maggi noodles and KitKat chocolates, after consumption tax cuts lifted spending.
The Indian unit of Swiss food major Nestle said net profit rose to 10.18 billion rupees ($110.77 million) for the third quarter ended December 31, from 6.96 billion rupees a year earlier. Shares rose as much as 4% to their highest since October 2024.
Demand has been gradually improving in India as a sustained moderation in...
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