Mumbai, Oct 18: Nestle India’s net profit fell marginally to Rs 899 crore in the second quarter (Q2) this fiscal, from Rs 908 crore in the corresponding quarter of the previous year, according to the company’s quarterly financial results on Thursday.The FMCG company reported revenue from operations at Rs 5,104 crore, compared to Rs 5,037 crore a year ago, a rise of 1.3 per cent.
The company saw continued accelerated growth by almost 38 per cent in the quarter, primarily driven by quick commerce and fuelled by brands such as Kitkat, Nescafe, Maggi, and Milkmaid. The company said that the growth was supported by premiumisation, new user acquisition, festive participation and targeted digital communications.
Nestle India Chairman and Managing Director Suresh Narayanan said that despite a challenging external environment with muted consumer demand and high commodity prices, especially for coffee and cocoa, “we remained resilient in our pursuit to deliver growth”.
“This quarter, 5 of our top 12 brands grew at double-digit. However, some key brands witnessed pressure due to softer consumer demand and we focus on them and have in place robust action plans,” he said.
“It is heartening to note that in the last 9 months, 65 per cent of our top 12 brands, including Maggi noodles, showed positive volume growth,” Narayanan said.
Meanwhile, the company announced the appointment of Manish Tiwary as Managing Director of Nestle India to succeed Narayanan, who will retire on July 31, 2025.