On Thursday, 27 July, Nestle India reported a 36.8% increase in consolidated net profit at Rs 698.34 crore for the first quarter of the current fiscal year against the Rs 510.24 crore reported in the Q1 of the previous fiscal year.

The company reported a 5.1% decrease in net profit against the previous quarter.

The operating revenue for Nestle increased by 15.14% to Rs 4,658.53 crore from the Rs 4,045.69 crore reported in the year-ago quarter. The company saw a 3.56% decline in its operating revenue from the previous quarter.

The FMCG major reported a 25.4% increase in export sales.

Suresh Narayanan, Chairman and Managing Director of 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,”

The FMCG major registered double-digit growth driven by MAGGI noodles, aided by distribution expansion and impactful consumer activations.

The company’s dairy products delivered robust double-digit growth, despite inflationary pressures driven by Milkmaid and Peptamen.

Nestle noted that commodities such as wheat, packaging materials, and edible oil have been in the lower price range.

The company added, “A reversal of price trend is noted in fuels with prices softening in the second quarter after reaching a higher level towards the end of quarter one. In fresh milk, there has been price stability. Robusta prices are elevated and are expected to remain volatile,”