Nestle Q4 results declared today; net profit jumps 27 percent

FMCG major Nestle has revealed its Q4 results and the standalone profit has jumped as much as 27 per cent to ₹934 crore, which was a significant increase from ₹737 crore a year ago, the company has reported in its regulatory filing. Nestle also reported a surge in revenue by 9% to ₹5,268 crore. The jump has been on account of higher pricing as well as demand for its packaged food items.

Nestle Q4 results have been declared today with the net profit jumping.(REUTERS)

Notably, FMCG companies have seen demand stay steady, and even increase, for products like chocolates and biscuits. Also, price hikes have been effected coffee and noodles to protect bottomlines, which have borne fruit.

HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!

The company has also announced a ₹8.5 dividend.

Notably, the Q4 results have been declared in the backdrop of a major controversy that the company finds itself in regarding the levels of sugar content in baby food.

Reacting to that, Indian food safety regulator FSSAI on Thursday said it has launched a drive to collect samples of Nestle's Cerelac baby cereals from across the country.

The row started after a global report published by Swiss NGO Public Eye was released that claimed Nestle's product had high sugar content.

Both the consumer affairs ministry and the National Commission for Protection of Child Rights (NCPCR) have expressed concern over the matter.

The report alleges that, as compared to markets in Europe, Nestle baby products sold in less developed South Asian countries including India, Africa and Latin America, have higher sugar content.

Nestle India - the big numbers

* Nestle India net profit of 9.34 billion rupees ($112.03 million)

* Nestle India revenue from operations climbed to 52.68 billion rupees, from 48.31 billion rupees a year earlier.

Discover the pivotal moments that shaped India's electoral journey on the Eras section of our exclusive Elections product. Access all content absolutely free on the HT App. Download now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs

• ABOUT THE AUTHOR

  

  Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.