Nestle India Q3 profit declines 20 per cent to Rs 387 crore

Revenue from sale of products stood at Rs 3,706.20 crore, up 8.44 per cent as against Rs 3,417.52 crore in the year-ago quarter. 

Published: 18th February 2022 09:18 AM  |   Last Updated: 18th February 2022 09:18 AM   |  A+A-

By Express News Service

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. 


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