Nestle India posted a net profit of Rs 386.66 crore for the December quarter, down 19.99 percent from Rs 483.31 crore in the same period the previous year.
Revenue from product sales increased by 8.44 percent to Rs 3,706.20 crore, up from Rs 3,417.52 crore in the previous quarter.
The company’s Board of Directors recommended a final dividend of Rs 65/- per equity share for the year 2021. For this purpose, April 8 will be the record date. It will be paid on April 26 and thereafter.
In a poll conducted by ET Now, analysts predicted profits of Rs 522 crore and revenue of Rs 3784 crore.
Despite a highly uncertain economic environment, the Maggi producer had broad-based, double-digit, volume and mix-led growth over the year, according to the company. In 2021, total sales and domestic sales both climbed by 10.1% and 10.7%, respectively.
“Maggi noodles’ strong growth momentum remained, boosted by improved availability. Throughout the year, KitKat and Munch saw tremendous growth. Nescafe Classic’s growth rate remained in the double digits. “New emerging formats like ‘Quick Commerce’ and ‘Click & Mortar’ have fueled e-commerce growth,” stated Suresh Narayanan, Chairman and Managing Director, Nestlé India.
The company said it is still seeing substantial inflation in its major raw and packaging materials, which are at 10-year highs in several cases. Nestle, on the other hand, remains optimistic and plans to reduce expenses to lessen the impact, according to the company.
The company reported a net profit of Rs 2,145 crore for the full year of 2021 and tax payments of Rs 3,810 crore. The amount of cash earned from operations was Rs 2,999 crore. During the year, it paid a total dividend of Rs 200 per share.
On the NSE, the company’s shares were unchanged at Rs 18,225. Nestlé India Limited is a wholly-owned subsidiary of the Swiss multinational Nestlé. Gurgaon, Haryana, is the company’s headquarters. Food, beverages, chocolate, and confectioneries are among the company’s offerings.
Nestle Alimentana S.A. promoted the firm through a subsidiary, Nestle Holdings Ltd., which was founded on March 28, 1959. Nestlé India’s parent company, Nestlé, owns 62.76 percent of the firm as of 2020. The company operates nine manufacturing units across India.
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