Nestle India on Thursday reported a profit after tax (PAT) of Rs 386.6 crore for the quarter ended December 2021, as compared to Rs 483 crore a year earlier, a fall of 20%. Revenue from sale of products stood at Rs 3,706.20 crore, up 8.44% as against Rs 3,417.52 crore in the year-ago quarter.
The maggi maker posted operating revenues of Rs 3,739 crore, an 8.9% rise over the Rs 3,433 crore topline a year back. The revenue fell 4% sequentially from Rs 3,883 crore in the previous quarter. The company’s board has recommended a final dividend of Rs 65 per share of face value of Rs 10 per share.
Suresh Narayanan, Chairman and Managing Director, Nestlé India, in a regulatory filing said, “Strong growth momentum continued in Maggi noodles aided by increased availability. KitKat and Munch registered stellar growth throughout the year. Nescafe Classic continued to deliver double-digit growth.”
Total sales and domestic sales for 2021 increased by 10.1% and 10.7% respectively, Suresh noted. “We continue to witness high inflation in our key raw and packaging materials, where many are at 10-year highs,” he added.