Maggi pushes its âMasala-ae-Magicâ as a secret ingredient-in-chief for mealsÂ
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Lately, the brand has been pushing its non-noodle offering to the front.
That Maggi is a lot more than its 2-minute noodles is a hard fact to digest for many. Such has been the power of its various noodle offerings. Yet, knowingly or unknowingly, we tend to consume various other non-noodle offerings under the Maggi umbrella.
The Nestle snack has just released an ad for Maggi Masala-ae-Magic, a cooking aid made of 10 roasted spices. The ad sums up how Masala-ae-Magic plays a pivotal flavouring role in dishes, such as
Nestle India Q1 net profit up 14.6 per cent on robust domestic sales
During the quarter under review, the company’s revenue from operations stood at ₹3,610.82 crore, up 8.6 per cent.
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| A+A A- By Express News Service
NEW DELHI: Riding on the spike in home consumption, FMCG major Nestle India on Tuesday reported a net profit of Rs 602.25 crore for the quarter ended March 31, up 14.6 per cent, compared to Rs 525.43 crore in the corresponding quarter of the previous fiscal. The maker of Maggi noodles follows the January-December period as the financial year.
During the quarter under review, the company’s revenue from operations stood at ₹3,610.82 crore, up 8.6 per cent. Domestic sales achieved double-digit growth of 10.2 per cent, on a strong growth base in Q1 2020 largely driven by volume and mix. “As the pandemic rages on, the quarter gone by has been another test of resilience of my team and our partners.
April 20, 2021
Domestic sales rise 10.2 per cent driven by volume and mix
Nestle India reported a net profit of ₹602.25 crore for the quarter ended March 21, up 14.6 per cent, compared to ₹525.43 crore in the corresponding quarter of the previous fiscal.
The company follows the January-December period as the financial year. In the quarter under review, the company’s revenue from operations stood at ₹3,610.82 crore, up 8.6 per cent.
The company’s board declared an interim dividend of ₹25 per equity share (face value ₹10 per equity share) for 2021 amounting to ₹241 crore which shall be paid on and from May 19, along with the final dividend for the year 2020, it added.
Packaged food major Nestle India reported a 14.6 per cent jump in its net profit for the January-March quarter, backed by double-digit growth in domestic sales and muted rise in raw material costs compared to the corresponding quarter last year. The firm’s net profit for the quarter stood at Rs 602 crore, up from Rs 525 crore in 2020. Its net sales surged 8.9 per cent year-on-year to Rs 3,600 crore from Rs 3,306 crore. Domestic sales that contribute to over 94 per cent towards its revenue, grew 10.2 per cent to Rs 3,442 crore but exports declined 13 per cent, dragging its top-line growth to single digit. The company said it registered a broad-based growth during the quarter, largely driven by volume and mix. Key products like Maggi Noodles, Kitkat, Nescafé Classic, Maggi Sauces, Milkmaid, Maggi Masala-Ae-Magic, among others, delivered robust performance and achieved double-digit growth as in-home consumption surged, said Suresh Narayanan, chairman and managing director at Nes
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Nestlé India posted a 14.6% increase in net profit to ₹602.25 crore for quarter ended March 31 from a year earlier, as in-home consumption boosted demand for key products.
The company, which follows the January-December financial year, had reported a net profit of ₹525.43 crore in January-March 2020 quarter.
Total sales rose 8.9% to ₹3,600 crore. In a statement, the company said the growth “was broad based and largely driven by volume and mix. Key products boosted by in-home consumption, posted double-digit growth”.
“Domestic sales increased by 10.2%. Export sales were lower by 12.9% due to lower exports to affiliates. Demand in Out-of-Home channel further improved. but continues to be impacted by COVID,” it added. The company declared an interim dividend of ₹25 per share.