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Nestlé India achieves the ₹5,000cr milestone in Q2FY4

Oct 19, 2023

By: BlinkX Research Team

Nestlé India, a leader in the food and beverage industry, announced its exceptional financial results for Q2FY24. The quarter marked a significant achievement as the company exceeded ₹5,000 crore in turnover for the first time in any quarter in its history. 

These results highlight consistent performance across its major brands, with domestic sales showing strong double-digit growth, driven by factors like product mix, volume, and pricing strategies.

Key Financial Highlights:

• Total sales for Q2FY24 reached ₹5,009.5 Crore.
• The company achieved a total sales growth of 9.4%, with domestic sales growing at an impressive rate of 10.3%.
• The profit from operations accounted for 22.6% of sales.
• Net profit for the quarter amounted to INR 908.1 Crore.
• Earnings per share stood at INR 94.18.

Key Business Highlights:

• E-commerce played a pivotal role, contributing 6.1% of quarterly sales with continued growth across product groups, driven by Quick Commerce.
• Organized Trade delivered robust double-digit growth in the retail channel.
• Out of Home (OOH) witnessed strong double-digit volume-led growth, attributed to product transformation.
• Exports expanded to key international markets with strong demand for brands like MAGGI and NESCAFÉ SUNRISE.

Product Groups Performance - Q2FY24 (Domestic):

• Prepared Dishes and Cooking Aids showcased strong growth driven by market visibility, impactful media campaigns, and consumer engagement, especially in RURBAN markets.
• Milk Products and Nutrition delivered double-digit growth, including the launch of Nestlé a+ Masala Millet.
• Confectionery, led by KITKAT and MUNCH, registered robust growth supported by media campaigns and KITKAT's premium portfolio launch.
• Beverages achieved strong growth with NESCAFÉ brands, particularly NESCAFÉ CLASSIC, NESCAFÉ Sunrise, and NESCAFÉ GOLD, demonstrating double-digit growth.
• Petcare Business continued to receive positive feedback with products like Felix Wet Cat food.

Nestlé India's unwavering brand resonance and sustainable management positions the company for further success. Amid the ever-changing market context, the company has delivered remarkable results.

Stay tuned for more updates and insights into Nestlé India's journey toward excellence.