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12 months ago

Nestle India Q1 results: Profit jumps 25% to Rs 737 crore, revenue up 21%; highest growth in decade, says FMCG major

Nestle India on Tuesday reported a 24.69 per cent year-on-year (YoY) risen in profit at Rs 736.64 crore for the March quarter compared with Rs 590.77 crore in the corresponding quarter last year.

Revenue from operations grew 20.98 per cent YoY to Rs 4,830.53 crore for the first quarter compared with Rs 3,992.60 crore in the same quarter last year, thanks to a healthy balance of pricing, volume and product mix, the company said in a BSE filing.

The company said this was the highest growth in a quarter in the last 10 years. This excludes an exceptional quarter in 2016 which was off due to a low base in 2015.

Chairman and Managing Director Suresh Narayanan said: “All our product groups delivered double digit growth, a notable feature in these past four quarters in a row. Confectionery led by KITKAT, and MUNCH posted a strong growth, supported by consumer led campaigns, innovation and engagement.” he said. Narayanan said beverages turned in another quarter of robust growth and market share gains led by Nescafe Classic, Nescafe Sunrise and Nescafe Gold.

“Prepared Dishes and Cooking Aids delivered strong growth across all products in its portfolio. One can discern portfolio upgradation happening in this category. Milk products and Nutrition continued its strong performance led by Milkmaid among others,” it said.

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