Nestlé sees profit dip, strong sales growth amid GST rejig

Nestlé India reported a 23.6% year-on-year drop in standalone profit to ₹753.2 crore in the September quarter as onetime exceptional costs and higher raw material expenses weighed on margins.

- Suneera Tandon

The company announced on Thursday that it will continue to accelerate investments in brands and manufacturing capacity to drive long-term growth. A new noodles line has been commissioned at its Sanand factory in Gujarat.

On Thursday, the Swiss food giant announced it would cut 16,000 jobs globally over the next two years in an effort to boost sales and improve profitability. Of these, 12,000 are white-collar employees.

Responding to a Mint query, a Nestlé India spokesperson said, "The workforce reduction applies to markets and func-