Nestle profit surges 9.2% to Rs 463 crore; brands like Maggi, Kitkat and Munch deliver strong performances

By: |
Published: May 15, 2019 12:27:29 AM

Fast-moving consumer goods major Nestlé India, on Tuesday reported 9.2% y-o-y increase in its net profit at Rs 463.3 crore for the quarter ended March 31 2019 from Rs 424 crore in the year-ago quarter.

Nestlé profit surges 9.2% to Rs 463 crNestlé profit surges 9.2% to Rs 463 cr

Fast-moving consumer goods major Nestlé India, on Tuesday reported 9.2% y-o-y increase in its net profit at Rs 463.3 crore for the quarter ended March 31 2019 from Rs 424 crore in the year-ago quarter.

Nestlé which follows January to December financial year also announced plans to launch organic food products in the Milk Products and Nutrition category in the coming months.

The maker of instant Maggi noodles reported 9% year-on-year increase in revenues to `3.003 crore in the quarter. Ebitda margins contracted by 80bps y-o-y to 24.50%, compared with 25.30% in Q1 CY18. Ebitda (earnings before interest, tax, depreciation and ammortisation) rose by 5.90% y-o-y to `737.6 crore, against `696.8 crore in Q1 CY18.

Cost of materials consumed for the quarter increased 8.29% to `12.086.7 crore from `11,160.6 crore in Q1CY18.

“We have continued on the track of volume-led growth with our brands like Maggi, Kitkat and Nestlé Munch delivering strong performances. The market momentum remained strong while the input costs have witnessed hardening,” Suresh Narayanan, chairman and managing director, Nestlé India, said.

Shares of the company on Tuesday closed at `10,214.70, down 0.99% on the BSE.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Nestle’s organic play: To launch organic milk products in India; other highlights from Q1 results
2Paytm hit with Rs 10 crore cashback fraud; tens of employees sacked, hundreds of merchants removed
3Jio users to get Rs 9,300 benefits on buying OnePlus 7 Pro, OnePlus 7: All you should know