Nestle India has received Government approval for producer linkage incentive (PLI) scheme for fruits, vegetables
Shares of Nestle India were 1.81% higher at Rs 1,9336.10 per unit on BSE.
Nestle India announced that it has received government approval for its proposal under the Producer Linked Incentive (PLI) scheme for processed fruits and vegetables.
Theo filed a regulatory application by Nestle on the stock exchanges today.
On Monday, the Food Processing Department said it had approved 60 investment proposals from packaged food companies, such as Amul, ITC, HUL, Britannia Industries, Parle Agro, Tata Consumer Products and Nestle India. to seek benefits under the PLI program. In March of this year, the government approved a PLI scheme for the food processing sector, resulting in an expenditure of Rs 10,900 crore.
For the July-September quarter of the fiscal year 2021-22, Nestle India registered a net profit of Rs 617 crore, compared with 538 crore in the April-June quarter prior, marking a growth of 15 % from the previous quarter. .
The company’s operating revenue for the second quarter of the current financial year was Rs 3,882.6, compared with Rs 3,476.7 in the previous quarter, marking 12% quarter-on-quarter growth. Revenue growth was driven primarily by broad-based domestic sales growth, which increased 10.1% and – largely in volume and mix.
On Tuesday, December 7, shares of Nestle India were 1.81% higher at Rs 1,9336.10 per unit on BSE. Nestle India opened on BSE at Rs 1,9206.60. registered an intraday high of Rs 1,9430 and an intraday low of Rs 1,8972.10, during today’s trading session.
