FMCG major Nestle India Ltd on Tuesday reported a 5.15 per cent rise in net profit to Rs 617.37 crore for the third quarter ended September, driven 🔜largely by high single-digit volume growth in the domestic market.
The 📖company, which follows the January-December financial year, had posted a profit of Rs ꦆ587.09 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 cro🍒re as against Rs 3,525.41 crore earlier.
Suresh Narayanan, Chairman and Managing Director, Nestle India, said, "This quarter has oಌnce agai💧n 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 seco൲nd 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 ce🦄nt to Rs 3,081.99 crore as compared to Rs 2,7𒐪89.67 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, shar🔴p communication and customisation for the channel at scale," Narayanan added.
(With PTI Inputs)
