Nestle India Profit Rises 15% To Rs 602 Crore In March Quarter

Nestle India reported double-digit domestic growth in the quarter ending March 2021 at 10.2 per cent, while the overall sales grew by 8.9 per cent.

Manufacturer of popular noodle brand Maggi - Nestle India reported a net profit of Rs 602 crore on Tuesday, April 20, registering a growth of 14.6 per cent in the January-March quarter from Rs 525 crore during the same period last year. According to a regulatory filing by the firm to the BSE, Nestle India reported double-digit domestic growth in the quarter ending March 2021 at 10.2 per cent, while the overall sales grew by 8.9 per cent to Rs 3,600 crore. The FMCG major reported broad-based growth in the quarter, largely driven by volume and mix. The company's export sales were lower by 12.9 per cent due to lesser exports to affiliates. Nestle India's revenue from operations in the January-March quarter stood at Rs 3,611 crore, up 8.6 per cent, compared to Rs 3,325 crore in the year-ago period. Nestle India stated that its demand in the Out of Home channel improved in the March quarter but continues to be impacted by the COVID-19 pandemic. The e-commerce channel delivered robust performance and grew by 66 per cent, contributing almost 3.8 per cent to domestic sales.