Nestle India Q1 Results FY2024, Profit at Rs. 6,983.4 Million

On 27th July 2023, Nestle India announced its quarterly results for the last quarter of FY2023.

Nestle India Financial Highlights:

- Revenue from operations at Rs. 46,585.3 million for the quarter.
- Profit before tax for the quarter at Rs. 9,393.3 million. 
- Profit after tax for the quarter at Rs. 6,983.4 million. 

Nestle India Business Highlights:

- The E-commerce channel contributed to 6.5% of the quarterly sales and continued the growth momentum driven by Quick Commerce 
- Organized Trade channel continued delivering strong broad-based growth across categories driven by store expansion and improved footfalls
- Prepared Dishes and Cooking Aids registered double-digit growth driven by MAGGI Noodles and aided through distribution expansion and impactful consumer activations
- Milk Products and Nutrition delivered strong double-digit growth despite inflationary pressures.
- Confectionery segment registered double-digit growth led by KITKAT and MUNCH.  
- Beverages segment registered robust double-digit growth led by greater household penetration NESCAFÉ Classic, NESCAFÉ Sunrise and NESCAFÉ GOLD for both hot and cold coffee occasions
- Petcare Business continues to provide complete nutrition for cats and dogs. Felix has received positive feedback from trade and cat parents.  

Commenting on the results, Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “I am pleased to share that we have, yet again, delivered robust performance, with all product groups registering double-digit growth. This is the fifth quarter in a row of double-digit growth across ALL product groups. Domestic sales growth is broad-based and grew by 14.6%, on the back of prudent pricing and supported by mix and volume with targeted brand support. Key brands continued to perform well, led by KITKAT, NESCAFÉ, and MAGGI among others.”