Nestle India reported a net profit of Rs 539 Crore for the quarter ended June. The company’s total sales stood at Rs 3,462 Crore. The profit from Operations stood at 22.2 percent of sales, and the total sales growth stood at 13.8 percent.
Domestic & Export Sales achieved double-digit growth largely driven by volume & mix. Maggi Noodles, Kitkat, Nestlé Munch, Maggi Sauces, Maggi Masala Magic posted strong double-digit growth.
The company registered strong performance in E-Commerce channels, grew by 105%, which contributed 6.4% of the domestic sales. The hyperlocal (quick commerce) channels grew by 147%. Nestle India Invested about INR 25 Crore in a range of sustainability projects.
Commenting on the results, Suresh Narayanan, Chairman and Managing Director, Nestlé India, said, “The needs of the community and supporting our people always take precedence over everything else in a crisis. Those are the values and purpose that have defined us, which we pride in and cherish. At the same time, as a leading food and beverage company, ensuring supplies of much-needed products to consumers is the call of duty that unites all of us at Nestlé India!”
“Last year, our commitment to India made us articulate an ambition to invest INR 2,600 Crore (INR 26 Billion) over a 3-4-year period. I am pleased to announce that we have already invested about INR 1,000 Crore (INR 10 billion) thus far out of this. This is a vindication of our confidence and trust in the Nestlé journey in India,” he added.
Narayanan further said, “In moments of crisis like this pandemic, our strong values and purpose ensure that we never lose sight of the well-being of society at large, by being a “Force for Good”. We have continued to offer employment opportunities, developmental vistas for talent. We have welcomed over 1,000 people through regular hiring, apprenticeship, and internship into the Nestlé India family during the first half of this year. Generating employment is vital for the nation, and we are trying to play our part in this. At the same time, providing succor to distressed and less fortunate sections of our society is also a calling we heed. We contributed about INR 15 Crore (INR 150 Million) towards CSR spends in the areas of nutrition awareness, COVID relief initiatives, etc., this quarter. Further, our unwavering focus on sustainability continues, and we have invested about INR 25 Crore (INR 250 Million) in a range of projects in the first half of the year.‘’
