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MUMBAI: today reported a 14.6 per cent year-on-year growth in net profit to Rs 602 crore for the quarter ended March. The company’s revenues in the quarter rose 8.9 per cent on-year to Rs 3,600 crore.
Analysts had expected the fast-moving consumer goods company to report net profit of Rs 589 crore on sales of Rs 3,598.1 crore.
“As the pandemic rages on, the quarter gone by has been another test of resilience to deliver double digit growth over a strong comparable in 2020,” said chairman and managing director Suresh Narayanan.
The company’s domestic sales in the quarter grew at a scorching pace of 10.2 per cent on a year-on-year basis, which was higher than analysts’ estimates of 7-9 per cent.
The company said that growth during the quarter was broad-based led by volumes.
The company said that the e-commerce channel continued to show traction as it grew 66 per cent from a year-ago quarter and contributed to 3.6 per cent of the overall sales.
Mindful of the recent spike in commodity prices, Nestle India said that it is witnessing headwinds in commodity and packaging materials.
The company also declared an interim dividend of Rs 25 per share that will entail an outlay of Rs 241 crore.
Shares of the company ended 0.2 per cent higher at Rs. 17,115 on the National Stock Exchange.
Analysts had expected the fast-moving consumer goods company to report net profit of Rs 589 crore on sales of Rs 3,598.1 crore.
“As the pandemic rages on, the quarter gone by has been another test of resilience to deliver double digit growth over a strong comparable in 2020,” said chairman and managing director Suresh Narayanan.
The company’s domestic sales in the quarter grew at a scorching pace of 10.2 per cent on a year-on-year basis, which was higher than analysts’ estimates of 7-9 per cent.
The company said that growth during the quarter was broad-based led by volumes.
The company said that the e-commerce channel continued to show traction as it grew 66 per cent from a year-ago quarter and contributed to 3.6 per cent of the overall sales.
Mindful of the recent spike in commodity prices, Nestle India said that it is witnessing headwinds in commodity and packaging materials.
The company also declared an interim dividend of Rs 25 per share that will entail an outlay of Rs 241 crore.
Shares of the company ended 0.2 per cent higher at Rs. 17,115 on the National Stock Exchange.
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3 Comments on this Story
 | Brij mahindroo13 hours ago 164K invested in bank will not create employment for lacs of people engaged in production, distribution & sales of products of co.besides contributing to exchequer by way of excise and other taxes year after year..Results of Nestle are indeed laudable |
 | Jio Rel15 hours ago If one buys an FD or govt securities worth 164k cr they can easily get an after tax return of about 5500 cr, right? Why would anyone pay 164k cr for a net profit of 2400 cr and a 10% growth. |
| Jio Rel16 hours ago How can you call a 10% growth in sales a scorching pace. And 70 times earnings for a 10% growth? Would you pay 164k crores (market cap) for a company that generates 2400 cr net profit (600 for the quarter, annualised). Nestle is a great company, but everything has a price. |