STOCK MARKET BSE NSE

Nestle India Q3 net up 5 per cent to Rs 617 crores; net sales up 9.63 pc to Rs 3,865 crores

Shares of Nestle India Ltd on Tuesday, October 19, 2021, settled at Rs 19,389.15 on BSE, down 0.20 per cent from its previous close.

Published: 19th October 2021 05:56 PM  |   Last Updated: 19th October 2021 05:56 PM   |  A+A-

Nestle

Nestle (File Photo | Reuters)

By PTI

NEW DELHI: FMCG major Nestle India Ltd on Tuesday, October 19, 2021, reported a 5.15 per cent rise in net profit to Rs 617.37 crore for the third quarter ended September, driven largely by a high single-digit volume growth in the domestic market.

The company, which follows the January-December financial year, had posted a profit of Rs 587.09 crore in the same period a year ago, Nestle India said in a BSE filing.

Net sales rose 9.63 per cent to Rs 3,864.97 crore as against Rs 3,525.41 crore earlier.

Nestle India Chairman and Managing Director Suresh Narayanan said, "This quarter has once again seen the Company deliver 'double-digit broad-based value growth' in domestic sales across categories."

Organised trade witnessed a resurgence in the third quarter with strong revenue growth in mid-twenties after a muted second quarter which was impacted by the second wave of COVID-19.

Nestle India's domestic sales were up 10.07 per cent to Rs 3,687.37 crore as against Rs 3,350.10 crore in July-September 2020.

"Domestic Sales Growth at 10.1 per cent. The growth is broad-based and largely driven by volume & mix," said Nestle India.

Export sales rose 1.30 per cent to Rs 177.60 crore as against Rs 175.31 crore.

The company said Maggi noodles and Polo have been recently introduced in the Middle East market, while Crunch Wafers have been launched in ASEAN markets.

In the July-September quarter, its total expenses increased 10.48 per cent to Rs 3,081.99 crore as compared to Rs 2,789.67 crore in the year-ago period.

"E-commerce channel showed strong acceleration on the back of convenience and pandemic driven consumer behaviour, fully leveraged by a team who used the power of meaningful shopper insights, data analytics, speed, flexibility, sharp communication and customisation for the channel at scale," Narayanan added.

Shares of Nestle India Ltd on Tuesday settled at Rs 19,389.15 on BSE, down 0.20 per cent from its previous close.
 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp