Nestle India posts net profit of Rs 539 cr in Q1 FY22
For the quarter ended June 30, 2021, total sales and domestic sales for the quarter increased by 13.8% and 13.7% respectively
Nestle India has reported a net profit of Rs 539 crore for the quarter ended June 2021. The standalone profit from operations during Q1 of the financial year 2021-22 (FY22) stood at 22.2% of Sales.
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 the purpose that has defined us, which we take 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!
He also said that last year, their commitment to India made them articulate an ambition to invest INR 2,600 Crore (INR 26 Billion) over a 3-4-year period. Out of this, they have already invested about INR 1,000 Crore (INR 10 billion) thus far. This is a vindication of their confidence and trust in the Nestlé journey in India.
"At the same time, providing succour to distressed and less fortunate sections of 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," he added.
Nestlé India – Q2, 2021:
- Total Sales of INR 3,462 Crore
- Total Sales Growth at 13.8%. Domestic Sales Growth at 13.7%.
- Profit from Operations at 22.2% of Sales
- Net Profit of INR 539 Crore
- Earnings Per Share of INR 55.86
Key Highlights – Q2 2021:
- Domestic & Export Sales achieved double digit growth largely driven by volume & mix.
- Key products MAGGI Noodles, KITKAT, Nestlé MUNCH, MAGGI Sauces, MAGGI MASALA-AE-MAGIC posted strong double-digit growth.
- Strong performance in E-Commerce channels, grew by 105% and contributed 6.4% of domestic sales.
- In recent times, commodity prices have been rising across oils and packaging materials.
Key Highlights – H1 2021:
- Hyperlocal (quick commerce) channels grew by 147%.
- Contribution of innovations to domestic sales growing, now at 4.9%.
- Over 1,000 people through regular hiring, apprenticeship and internship joined the Nestlé India family.
- Invested about INR 25 Crore in a range of sustainability projects.
Financial Highlights for the quarter ended 30 June 2021:
Total Sales and Domestic Sales for the quarter increased by 13.8% and 13.7% respectively, on a base impacted by COVID 19 induced lockdown with production disruptions across factories. Domestic Sales growth was driven by volume & mix. Export Sales increased by 17.7% due to the timing of exports to affiliates.
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