Nestle India reported 13.55% rise in net profit to Rs 525.43 crore on 9.49% rise in total income to Rs 3,368.12 crore in Q1 March 2020 over Q1 March 2019.
The announcement was made after market hours yesterday, 12 May 2020. Shares of Nestle India fell 0.63% to close at Rs 17,457.25 on 12 May 2020.
Commenting on the results and the prevailing environment, Suresh Narayanan, Chairman and Managing Director, Nestle India said, the company remained resilient in the first quarter, as the numbers indicate, and delivered volume and mix led growth. MAGGI, KITKAT and Nestle MUNCH delivered strong performances. Contribution from ecommerce went up significantly, while out of home sector performance was subdued. Commodity prices for milk and its derivates continued to be on the rise during the quarter.
Nestle India operates in the food segment. The food business incorporates product groups, which include milk products and nutrition, beverages, prepared dishes and cooking aids, and chocolate and confectionery.
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