Nestle India's Profit Soars, Forms JV with Dr. Reddy's

Nestle India's net profit surged by 27% in the March quarter, reaching ₹934.17 crore, driven by strong growth in product sales. The company also announced a joint venture with Dr. Reddy's Laboratories in the nutraceuticals sector. Additionally, Nestle will introduce its Nespresso coffee brand to the Indian market later this year. The company's domestic sales crossed the ₹5000 crore mark, showcasing its robust performance despite challenges like food inflation and volatile commodity prices. The joint venture with Dr. Reddy's will allow Nestle to expand its nutritional solutions to more consumers in India. The partnership aims to combine Nestle's health products with Dr. Reddy's distribution network. Nestle's beverage business, including Nescafe, has seen significant growth, with Nespresso set to tap into India's growing coffee market. The company's board recommended a final dividend for the financial year, highlighting its strong financial performance.