FMCG major Nestle India on Tuesday announced that its March quarter profit rose 24.7% year-on-year (YoY) to Rs 737 crore while total sales jumped 21.3% to Rs 4,808 crore.
Nestle India Chairman and Managing Director Suresh Narayanan said it is the highest growth for the company in a quarter in the last 10 years after excluding the exceptional quarter in 2016 which was off a low base in 2015.
The Maggi maker said the company is witnessing early signs of softening of commodities such as edible oils, wheat and packaging materials. However, the cost of fresh milk, fuels, and green coffee are expected to remain firm because of continued increase in demand and volatility, it said while announcing the quarterly results.
