Nestle India Q1 net profit falls on higher costs
Packaged foods maker Nestlé India Ltd’s consolidated net profit fell 13.4 per cent year-on-year in the quarter ended June 30 as higher raw material and finance costs dented earnings despite robust growth in key categories. The fast moving consumer goods (FMCG) company reported a net profit of Rs 646.6 crore on July 24, missing Street estimates,…
Nestle India share falls after weak Q1FY25 results
Nestlé India continued to focus on innovation and sustainability, launching several new products and enhancing its digital engagement with consumers. Nestlé India has delivered an impressive performance in the first quarter of FY 25, reflecting strong growth across key financial metrics. The company’s commitment to innovation, efficiency, and sustainability has played a pivotal role in…
Nestle India CMD Dismisses NGO Accusations on Baby Food
Recently, Nestle India CMD Suresh Narayanan was in the hot seat as he fielded questions on the sugar controversy triggered by a recent report released by Swiss investigative organisation Public Eye. Narayanan vehemently dismissed accusations made by the Swiss NGO about Nestle having “double standards” for developed and developing markets. The report alleged that Nestle’s…
Nestle says added sugar levels in Cerelac below FSSAI standards
Nestle India on Monday said that its baby food brand Cerelac is in compliance with the country’s local food laws with “added sugar” levels being “much lower” than permissible upper limit set by the FSSAI. The company emphasised that the allegations of “racial stereotypes” made by Swiss NGO Public Eye’s report are “untrue”. The packaged…
India becomes largest market for Maggi in FY24, company to launch Nespresso by 2024-end
Nestle India posted a net profit of ₹934.17 crore in the March quarter, up 27 per cent year-on-year, on the back of strong growth momentum across its product portfolio. Revenue from operations rose 9.05 per cent to ₹5,267.59 crore. The company announced that it has inked a definitive agreement with Dr. Reddy’s Laboratories to form a…
Sustainable Dairy Farming-Nestlé India’s ‘Biodigester Project
Nestlé India is demonstrating its unwavering commitment towards responsible sourcing and reducing emissions from the dairy farms with the ‘Biodigester Project’. The biodigester technology transforms cattle manure into clean biogas, reducing the carbon footprint of dairy farms. The remaining slurry is utilized as natural fertilizer, contributing to regenerative agriculture practices. As a part of this…
Business strategy needs to factor in war impact’
Nestle India’s CMD, Suresh Narayanan, has stated that the war in West Asia will bring challenges for businesses, including the impact on commodity inflation. Narayanan also highlighted the importance of penetration-led volume growth and cost efficiency management as key strategies for the company. While inflation has decreased, Nestle does not see a strong case for…
Nestle India expands direct distribution, deepens rural coverage
In line with its rurban growth strategy, Nestle India has expanded its direct distribution to 1.5 million outlets in 2022 and is also deepening its rural coverage. The FMCG major has increased its overall distribution network to 5.1 million outlets, which includes direct and indirect distribution in 2022, from 4 million outlets in 2016. On…
Nestle India’s profit grows 65.5% in December quarter
Nestle India posted a net profit of ₹628.06 crore in the fourth quarter ended December 31, up 65.50 per cent against ₹379.48 crore in the same period a year ago. The company’s sales were up 13.95 per cent to ₹4,233.27 crore in the quarter under review. The packaged food major, which follows the January-December period as…
Nestle India may hike prices, to venture into small towns
Amid inflationary pressures across industries, Fast-Moving Consumer Goods (FMCG) major Nestle India could look at hiking prices in extreme cases where where it unable to absorb the rise in commodity prices. The company has shifted its focus on brands that will provide better value outcomes. Speaking to businessline Suresh Narayanan, Chairman and Managing Director of Nestle India,…