Nestle India March qtr profit up 14.6% on double-digit sales growth

Key products like Maggi Noodles, Kitkat, Nescafe Classic, Maggi Sauces, Milkmaid and Maggi Masala-Ae-Magic delivered robust performance as in-home consumption surged

Packaged food major Nestle India reported a 14.6 per cent jump in its net profit for the January-March quarter, backed by double-digit growth in domestic sales and muted rise in raw material costs compared to the corresponding quarter last year. The firm’s net profit for the quarter stood at Rs 602 crore, up from Rs 525 crore in 2020.

Its net sales surged 8.9 per cent year-on-year to Rs 3,600 crore from Rs 3,306 crore. Domestic sales that contribute to over 94 per cent towards its revenue, grew 10.2 per cent to Rs 3,442 crore but exports declined 13 per