Shares of Nestle India tanked after the company reported its earnings for the second quarter of FY25 on Thursday.

What Happened: The Maggi maker reported a net profit of ₹899.5 crore in the July to September period, a 1% fall from ₹908 crore posted in the same period a year ago. Sequentially, profit rose 20.5% from ₹746.6 crore.

Revenue from operations jumped 1.3% to ₹5,104 crore from ₹5,036 crore in the year-ago period. The total income of the company came in at ₹5,110 crore. Revenue from sales of products was ₹5,074.7 crore. Of this, domestic sales brought in a revenue of ₹4,883 crore whereas exports brought in ₹191.6 crore.

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Despite the fall, net profit was slightly above the analysts’ expectations of around ₹858 crore. Revenue fell below street estimates of around ₹5,301 crore in revenue.

The board also approved the appointment of Manish Tiwary as managing director of Nestle India with effect from August 1, 2025. Tiwary will succeed Suresh Narayanan, who retires on July 31, 2025.

Price Action: Nestle India’s shares were down 2.93% to ₹2,390.20 on Thursday morning.

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