Indian companies report mixed Q1 earnings: Nestlé profit jump, Cipla decline, IndusInd rise

Nestlé India posted a strong first‑quarter performance, with consolidated net profit up 47.9% year‑on‑year to Rs 975 crore and sales rising 25.4% to Rs 6,363 crore. Exports grew 35.6% despite geopolitical headwinds. At the same time, Nestlé announced a €3 billion cash raise from spinning off its bottled‑water business into a 50:50 joint venture with Platinum Equity, creating the new entity Peranel.

Cipla’s profit fell 39.2% to Rs 7.89 billion, driven by weaker U.S. sales of a generic cancer drug and supply disruptions to lanreotide after an FDA inspection of its sole supplier. Granules India posted a near‑60% profit surge to Rs 1.8 billion, helped by margin expansion and a 22% revenue rise.

MedPlus Health Services reported a 22% decline in net profit to Rs 331.8 million, citing higher expansion costs and intensified competition. IndusInd Bank posted a profit of Rs 1,037 crore and improved asset quality, though its shares fell about 6% on expectations of pressure on net interest margins. Dr Reddy’s Laboratories saw net profit plunge 69% to Rs 4,435 crore, weighed down by semaglutide supply disruptions and lower North‑American sales. Tata Communications’ net profit dropped 29% to Rs 134 crore, reflecting exceptional charges from a data‑centre fire and staff restructuring.

Overall, Indian corporate earnings showed a mixed picture, with notable gains for Nestlé and Granules India, but profit declines for several pharmaceutical and retail firms.