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Nestle India Registers Profit Growth of 2.25%

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Nestle India reported a 2.25 per cent increase in its net profit for the quarter ended December, on a year-on-year (YoY) basis, at Rs 483.31 crore.

During the corresponding quarter of 2019, the company had reported a net profit of Rs 472.64 crore.

The company’s revenue from operations increased nearly 9 per cent during the last quarter of 2020 to Rs 3,432.58 crore, said a regulatory filing.

For 2020, Nestle India reported 5.79 per cent rise in its net profit at Rs 2,082.43 crore. Its operational revenue last year increased by 7.9 per cent to Rs 13,350.03 crore.

Nestle India Chairman and Managing Director Suresh Narayanan said: “Under these circumstances, I am pleased to share that we delivered strong domestic sales growth. Nearly two thirds of our key brands like MAGGI Noodles, KITKAT and NESCAFE Classic posted double digit growth last year. This was backed by a step up in marketing spends, especially in the last quarter.”

He added that e-commerce continued to grow, surge ahead and now contributes 3.7 per cent of domestic sales.

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