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Nestle beats note ban blues in March quarter

Net profit would likely grow 15.6% on the back of double-digit topline growth

Viveat Susan Pinto  |  Mumbai 

The Nestle logo is pictured on the company headquarters entrance building in Vevey, Switzerland
The Nestle logo is pictured on the company headquarters entrance building in Vevey, Switzerland

has beaten the blues of and recovered, led mostly by its popular instant noodles Maggi, the company said in an earnings conference call (con-call).

Prime Minister Narendra Modi had announced the of old Rs 500 and Rs 1,000 notes on November 8 last year. This had led to a severe cash crunch in the economy, hitting demand for consumer goods.

For the December 2016 quarter, had reported a nearly 9 per cent decline in standalone It had fallen to Rs 167.3 crore for the quarter, compared to Rs 183.2 crore for the same period the previous year.

In the con-call on Thursday, Nestlé Chief Financial Officer said the India business was recovering. “continued with a good performance, driven by We see progressive normalisation after South Asia (of which India is a constituent) continued to make sustained progress with high single-digit organic growth.”

Nestlé is the second company, after Anglo-Dutch major Unilever, to indicate that the note ban effect was wearing off in the On Thursday, Unilever, which reported a surprise 2.9 per cent underlying sales growth for the quarter, said growth in India had recovered.

Based on the numbers reported as well as Unilever’s commentary for the period, Naveen Trivedi, senior analyst, HDFC Securities, said he saw its Indian subsidiary Hindustan Unilever showing better sales performance in the Volume growth, he said, would be over 3 per cent sequentially higher than the decline of 4 per cent reported in the December quarter.

Nestlé India, on the other hand, said Abneesh Roy, senior vice-president, institutional equities, Edelweiss, would see a 12 per cent revenue growth for the March quarter, led by a mix of price and volume growth.

would likely grow 15.6 per cent for the March quarter, Roy said, on the back of prudent cost management as well as double-digit topline growth.

is also slated to enter new categories such as pet care, skin care and hair care, according to its chairman and managing director Suresh Narayanan. He also said, in the firm’s recently released annual report for the calendar year 2016, that the firm was looking to introduce more global brands in the country to reduce its dependence on

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Nestle beats note ban blues in March quarter

Net profit would likely grow 15.6% on the back of double-digit topline growth

Net profit would likely grow 15.6% on the back of double-digit topline growth
has beaten the blues of and recovered, led mostly by its popular instant noodles Maggi, the company said in an earnings conference call (con-call).

Prime Minister Narendra Modi had announced the of old Rs 500 and Rs 1,000 notes on November 8 last year. This had led to a severe cash crunch in the economy, hitting demand for consumer goods.

For the December 2016 quarter, had reported a nearly 9 per cent decline in standalone It had fallen to Rs 167.3 crore for the quarter, compared to Rs 183.2 crore for the same period the previous year.

In the con-call on Thursday, Nestlé Chief Financial Officer said the India business was recovering. “continued with a good performance, driven by We see progressive normalisation after South Asia (of which India is a constituent) continued to make sustained progress with high single-digit organic growth.”

Nestlé is the second company, after Anglo-Dutch major Unilever, to indicate that the note ban effect was wearing off in the On Thursday, Unilever, which reported a surprise 2.9 per cent underlying sales growth for the quarter, said growth in India had recovered.

Based on the numbers reported as well as Unilever’s commentary for the period, Naveen Trivedi, senior analyst, HDFC Securities, said he saw its Indian subsidiary Hindustan Unilever showing better sales performance in the Volume growth, he said, would be over 3 per cent sequentially higher than the decline of 4 per cent reported in the December quarter.

Nestlé India, on the other hand, said Abneesh Roy, senior vice-president, institutional equities, Edelweiss, would see a 12 per cent revenue growth for the March quarter, led by a mix of price and volume growth.

would likely grow 15.6 per cent for the March quarter, Roy said, on the back of prudent cost management as well as double-digit topline growth.

is also slated to enter new categories such as pet care, skin care and hair care, according to its chairman and managing director Suresh Narayanan. He also said, in the firm’s recently released annual report for the calendar year 2016, that the firm was looking to introduce more global brands in the country to reduce its dependence on
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Business Standard
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Nestle beats note ban blues in March quarter

Net profit would likely grow 15.6% on the back of double-digit topline growth

has beaten the blues of and recovered, led mostly by its popular instant noodles Maggi, the company said in an earnings conference call (con-call).

Prime Minister Narendra Modi had announced the of old Rs 500 and Rs 1,000 notes on November 8 last year. This had led to a severe cash crunch in the economy, hitting demand for consumer goods.

For the December 2016 quarter, had reported a nearly 9 per cent decline in standalone It had fallen to Rs 167.3 crore for the quarter, compared to Rs 183.2 crore for the same period the previous year.

In the con-call on Thursday, Nestlé Chief Financial Officer said the India business was recovering. “continued with a good performance, driven by We see progressive normalisation after South Asia (of which India is a constituent) continued to make sustained progress with high single-digit organic growth.”

Nestlé is the second company, after Anglo-Dutch major Unilever, to indicate that the note ban effect was wearing off in the On Thursday, Unilever, which reported a surprise 2.9 per cent underlying sales growth for the quarter, said growth in India had recovered.

Based on the numbers reported as well as Unilever’s commentary for the period, Naveen Trivedi, senior analyst, HDFC Securities, said he saw its Indian subsidiary Hindustan Unilever showing better sales performance in the Volume growth, he said, would be over 3 per cent sequentially higher than the decline of 4 per cent reported in the December quarter.

Nestlé India, on the other hand, said Abneesh Roy, senior vice-president, institutional equities, Edelweiss, would see a 12 per cent revenue growth for the March quarter, led by a mix of price and volume growth.

would likely grow 15.6 per cent for the March quarter, Roy said, on the back of prudent cost management as well as double-digit topline growth.

is also slated to enter new categories such as pet care, skin care and hair care, according to its chairman and managing director Suresh Narayanan. He also said, in the firm’s recently released annual report for the calendar year 2016, that the firm was looking to introduce more global brands in the country to reduce its dependence on

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Business Standard
177 22