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On April 25, Nestle India revealed a stand-alone net profit for the March quarter of Rs 934 crore, up 27% from Rs 737 crore the previous year.
Seven brokerages participated in a survey, and the results showed a projected net profit of Rs 856 crore, up 22% from the prior year and 17.8% from the December quarter.
The Food Safety and Standards Authority of India (FSSAI) is investigating the FMCG giant on claims that their infant food contains excessive amounts of sugar.
The FMCG giant reported a 9% increase in revenue to Rs 5,268 crore in a regulatory filing.
Nestle India Future Plans
By the end of 2024, Nestle plans to introduce Nespresso to India. The business will market and distribute Nespresso goods, like as machines and capsules, through its network, boutiques, and online platforms.
In order to combine its worldwide line of nutritional health solutions, vitamins, minerals, and health supplements from Nestlé Health Science, Nestle India and Dr. Reddy’s enter into a joint venture. It is anticipated that the joint venture will start up in the second quarter of 2024–2025.
“I’m happy to report that, in spite of obstacles brought on by growing food inflation and unstable commodity prices, we have achieved double-digit growth. The combination of pricing and mix has driven a strong growth momentum across our product range,” Mr. Suresh Narayanan, Chairman and Managing Director of Nestlé India, stated.
Results in Q4
During the fiscal year that concluded on March 31, 2024, Nestlé India achieved significant successes in a number of different areas. Due to the popularity of KITKAT, confectionery helped India rise to the position of the brand’s second-largest worldwide market. The beverage industry performed admirably as well; during the previous seven years, NESCAFÉ reached over 30 million Indian households. The growth of Milk Products and Nutrition was strong even with inflationary pressures. India has become the largest market for MAGGI globally, because to its substantial rise in prepared dishes and cooking aids, especially MAGGI Noodles and MAGGI Masala-ae-Magic.
Furthermore, the Out-of-Home industry shown remarkable expansion, and e-commerce kept growing, accounting for 6.8% of overall sales. Nestlé India continued to be dedicated to the RUrban project, reaching a major turning point when it expanded to include more than 200,000 communities. The growth strategy of the organization is centered on investigating novel platforms and categories, in harmony with changing customer preferences and market trends. Nestlé India seeks to generate long-term value for its stakeholders by investing in new prospects and capitalizing on its current capabilities.
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