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Nestle blames rising costs for profit drop this quarter
Nestle India's profit fell 13.4% this quarter, landing at ₹646.59 crore compared to last year.
The company blames higher costs for ingredients like cocoa, milk, and coffee.
Still, overall revenue actually went up nearly 6%, thanks to stronger domestic sales and a big boost in exports.
Demand slows in some areas as costs rise
To handle rising costs, Nestle raised prices on some products, which slowed demand for things like milk and nutrition items.
Expenses jumped too, partly because of short-term borrowing.
On a brighter note, prices for key ingredients are starting to settle down—so things could look better soon.
Also worth noting: longtime CEO Suresh Narayanan retires July 31, with Manish Tiwary stepping in as the new chief.