Thu, Feb 29, 2024 4:26 PM
Steel secretary N N Sinha rules out ban on low-grade iron ore exports
A Flip by Shubhangi Gupta
The Indian arm of Nestle SA disappointed the Street with its subdued September quarter results. At a time when its flagship baby food brand Cerelac enters its 50th year in India, the company posted its slowest quarterly revenue growth in the past eight years. Against an expectation of around 5% revenue growth, Nestle India posted revenue growth of 1.3%.
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Higher education and upskilling platform Erudtius has raised $150 mn in a Series F round, led by TPG’s The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, according to a statement from the company released on October 18.Existing investors such as Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative also participated.
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Nestle India's Q2 results misses analysts' expectations, with net profit falling 1% to ₹899.5 crore and revenue rising 1.3% to ₹5,104 crore, missing estimates of ₹5,301 crore, due to weak domestic volume growth and subdued export performance, with brokerages downgrading earnings estimates and target prices.
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