Nestle India reported a 15 per cent increase in its net profit in the third quarter of FY21 as against Rs 538 crore recorded in the previous quarter at Rs 617 crore.
However, it was 5 per cent higher than the net profit of Rs 587 crore recorded in the corresponding period of the previous year.
The FMCG major follows a January to December financial year.
The company’s revenue also grew by 12 per cent to Rs 3,882.6 crore in the September 2021 quarter, as against Rs 3,476.7 crore in the June 2021 quarter. On a year-on-year basis, revenue grew by 10 per cent from Rs 3,541 crore in the corresponding period last year.
Revenue growth was driven by domestic sales as they grew 10 percent, which were further driven by volumes. However, exports showed a marginal increase of 1.3 per cent.
“This quarter has once again seen the company deliver ‘double-digit broad-based value growth’ in domestic sales across categories. The second quarter after the second quarter, Nestle India Chairman and Managing Director Suresh Narayanan said. Organized business saw a resurgence in the third quarter, driven by a second wave of the pandemic, with strong revenue growth.