Cadbury’s parent company Mondelez India Foods Private Limited mopped in net profit of Rs 462 crore, a whopping 42% jump in its last year profit numbers.
Cadbury’s parent company Mondelez India Foods Private Limited mopped in net profit of Rs 462 crore, a whopping 42% jump in its last year profit numbers, according to financial data accessed by business intelligence platform, Tofler. The American multinational company, which has brought Cadbury chocolates, Oreo biscuits and other food items in India also reported a 9% jump in revenues in the last financial year taking its revenues to Rs 6,746 crore. Further, Mondelez’s total expenses for the last fiscal were reported as Rs 5,844 crore, Tofler added.
Mondelez, which has been ramping up its Cadbury profile, recently launched premium Cadbury Dark Milk variant. The brand had also previously rolled out a new variant in its Cadbury range called “Cadbury 30% less sugar”. “Mondelez India sees a major opportunity in developing a new taste experience in the chocolate category and Cadbury Dark Milk gives us the first mover advantage of becoming the category innovator,” Anil Viswanathan, Director, Marketing (Chocolates), Mondelez India, said in a statement earlier.
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Meanwhile, the current year has not been benign for fast-moving consumer goods companies with FMCG growth rate tumbling down to less than half as compared to last year, American information, data and measurement firm Nielsen said last week. Nielsen also said that the slowdown is largely emanating from rural India with rural demand growth falling to a seven-year low in July-Sep quarter.
Rural India amounts to 20% of the total sales of Mondelez and the smaller packaging drives the sales of the company. “Rs 1, Rs 2, Rs 5 are the business driver packages for us. Majority profits come from there,” Deepak Iyer, President, Mondelez India, had said in June. “We always stay invested for the long term. We have also seen rural slowdown and we have also seen rural go up. In the recent times, the rural has done very well for us because of our expansions,” Deepak Iyer had told Financial Express Online in an interview earlier.