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Nestle India's profit dips 13.5% in Q1, shares fall 4%
Nestle India's shares slid by 4% after the company posted a lower-than-expected profit for Q1—₹646.5 crore, down 13.5% from last year and missing analyst forecasts.
Still, revenue grew 6% to ₹5,096 crore, which matched expectations.
Management hopeful of stabilizing costs for key ingredients
Higher borrowing costs and pricier ingredients squeezed Nestle's profits this quarter.
Despite that, there was strong growth in their chocolates and prepared meals segments.
Management sounded hopeful about stabilizing costs for key ingredients like oil and cocoa, plus falling coffee prices and an expected dip in milk prices thanks to the monsoon.