Continuing with its strong growth momentum, Nestle India recorded a 30 per cent increase in net profit to ₹446 crore in the quarter ended September 30, from ₹343 crore in the corresponding quarter previous year. The company follows the January-December financial year.
For the quarter under review, revenue from operations grew by 17 per cent to ₹ 2,939 crore (₹ 2,514 crore). “ Total sales and domestic sales for the quarter increased by 16.8 per cent and 17.5 per cent respectively supported by broad-based volume growth on a base quarter in which GST was implemented,” the company said in a statement.
Suresh Narayanan, Chairman & Managing Director, Nestle India said, “The quarter has witnessed another strong performance from the organisation, as we continue to deliver broad based volume driven growth.” He said that the company has stepped up marketing activities in a bid to strengthen its brands. “We are witnessing headwinds in commodity and crude oil prices coupled with currency depreciation,” Narayanan added.
The company, which has been on a product launch spree, recently launched Nescafe-E coffee machine, Special Masala variant for Maggi Noodles and Maggi Dip and Spread.