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Encouraged by volume growth, margin improvement and recovery in rural sales, India's top fast-moving consumer goods (FMCG) companies are now back to their normal growth cycle as they step up investments as well as spending on advertising and marketing. <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> are chasing volume growth again after a gap of a few quarters, offering higher grammage and price cuts thanks to inflationary pressures softening on key raw materials for everything from soaps to food items. Hindustan Unilever (HUL), Dabur, Marico, Godrej Consumer Products, ITC, Tata Consumer Products and Nestle reported volume recovery in the March quarter and said they expect a gradual pickup in consumption in FY24. "The prospects of a sustained recovery have strengthened. After five quarters of volume decline, the sector has posted volume growth," Marico MD and CEO Saugata Gupta said in the company's earnings conference call. "Urban consumption has been steady while rural is showing some convincing signs of having bottomed out." Foods continue to drive growth for the sector, while the home and personal care segment also entered positive territory after an extended slowdown. Marico, which owns popular brands like Saffola, Parachute and Livon, reported an 18.7 per cent increase in its consolidated net profit to Rs 305 crore for the fourth quarter ended March 2023 while sales rose 3.65 per cent to Rs 2,240 crore, driven by single-digit volume growth and moderation in commodity prices. HUL said rural areas have shown improvement with higher value growth sequentially. While HUL's volumes continue to fall, the extent of decline has reduced versus last quarter. "The slowdown in the FMCG market is bottoming out. This improvement was led by volumes, which have turned flat in this quarter, versus a mid-single-digit decline in the December quarter," said HUL CFO Ritesh Tiwari in its earnings call. The makers of popular brands such as Rin, Lux, Surf Excel and Pond's said it expects the price-volume growth to rebalance further. "We expect volumes to recover gradually due to high levels of cumulative inflation and the fact that consumption habits typically recover with a lag," he said. For the March quarter, HUL reported an increase of 12.74 per cent in its consolidated net profit to Rs 2,601 crore. Net sales rose 10.83 per cent to Rs 14,926 crore. However, HUL warned the near-term operating environment is likely to remain volatile due to global slowdown risk and uncertainty related to weather phenomena like El Nino and heatwaves. Abneesh Roy, Nuvama Group Executive Director for Institutional Equities, said the outlook for the <keyword id="495979" type="General" weightage="20" keywordseo="fmcg-industry" source="Orion">FMCG industry</keyword> was "positive" with volume growth and improvement in margins for most companies in FY24. "As raw material prices are cooling off, companies shall start paring prices via grammage increase or gradual price reductions. Price growth shall ease while volume growth will improve," he said. Roy also cautioned about the impact of El Nino and the "aggression" from billionaire Mukesh Ambani-led Reliance Industries Ltd, a known disrupter, which aims to be a big player in the USD 110-billion FMCG segment. Meanwhile, Godrej Consumer reported an 11.47 per cent increase in its India revenue to Rs 1,822.92 crore in the March quarter. This was led by volume growth of 11 per cent. Its home care segment, which consists of household insecticides and air fresheners, grew 14 per cent and 17 per cent, respectively. "We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability," said its Managing Director and CEO Sudhir Sitapati. Britannia Executive Vice-Chairman and Managing Director Varun Berry also expressed optimism. "Volume growth will be certainly much better than this year," he said. On commodity prices, Berry said there is deflation in prices of palm oil, laminates and corrugated material for packing but flour and milk prices are soaring. "There are certain brands and certain packs where we have already initiated price reductions or promotions," he said. In the March quarter, Britannia reported a 47.53 per cent jump in consolidated net profit to Rs 557.60 crore. Its revenue from operations rose 10.93 per cent to Rs 3,892.02. Similarly, Dabur reported volume growth of 11 per cent during the March quarter and 14 per cent for FY23. Its quarterly net profit was Rs 292.76 crore and revenue from operations stood at Rs 2,677.8 crore. "Despite near-term concerns around inflationary pressures, we plan to accelerate the growth momentum by continuing to invest in brand building, innovation, and capabilities that will drive growth," said Dabur India CEO Mohit Malhotra. Other companies also recorded growth. ITC's revenue from the FMCG segment rose 19.34 per cent to Rs 4,951.17 crore from Rs 4,148.62 crore while EBITDA jumped 76 per cent. Nestle, the maker of Maggi, Kitkat and Nescafe, reported an increase of 24.69 per cent in its net profit to Rs 736.64 crore in the March quarter. Sales rose 20.43 per cent to Rs 4,808.40 crore. Tata Consumer reported a 21.12 per cent rise in its consolidated net profit to Rs 289.56 crore. Its revenue from operations was up 13.96 per cent at Rs 3,618.73 crore. Tata Consumer said it recorded growth in the India beverages business and food. It had a "strong margin growth and strong topline growth driven both by volume and price," the company said in its earnings call. "We have started seeing volume growth coming back. The impact of inflation and monetary tightening on economic growth and demand seems to be slowing down, but I would keep my fingers crossed and monitor it closely," said Tata Consumer MD and CEO Sunil D'Souza. "In the near term, we are seeing stability." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

Equity benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty extended their rally for the third straight session on Wednesday amid buying in index major <keyword id="46717" type="General" weightage="20" keywordseo="indusind-bank" source="Orion">IndusInd Bank</keyword>, Nestle India and HCL Tech. However, continuous foreign fund outflows and a weak trend in global equities restricted gains in the market, traders said. The 30-share BSE Sensex climbed 169.87 points or 0.28 per cent to settle at 60,300.58. During the day, it jumped 232.08 points or 0.38 per cent to 60,362.79. The broader NSE Nifty advanced 44.35 points or 0.25 per cent to end at 17,813.60. Among the Sensex firms, PowerGrid, IndusInd Bank, Larsen &amp; Toubro, Nestle, HCL Tech, Axis Bank, Tata Motors, HDFC Bank, Tata Consultancy Services and HDFC were the major winners. Bajaj Finserv, NTPC, Reliance Industries and Kotak Mahindra Bank were the biggest laggards. Top moving stocks under Nifty500 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat State Fertilizer &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19.99% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multi Commodity Exchange of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.26% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Alkalies &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.85% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aavas Financiers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Narmada Valley Fertilizers &amp; Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.92% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ipca Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Triveni Turbine </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.92% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brightcom Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MMTC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.17% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vedant Fashions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.22% </td></tr></tbody></table>Source: NSE In Asian markets, Hong Kong ended in the green, while Tokyo and Shanghai settled lower. Equity markets in Europe were trading in negative territory. The US markets had ended sharply lower on Tuesday. Meanwhile, global oil benchmark Brent crude climbed 0.17 per cent to USD 80.91 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 407.35 crore on Tuesday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-railway-stock-is-buzzing-for-record-returns-on-strong-orders/articleshow/99786491.cms">This railway stock has turned a multibagger as its order book expands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bajaj-auto-rides-on-richer-product-mix-in-q4-but-export-and-disruption-concerns-persist/articleshow/99784940.cms">Bajaj Auto rides on richer product mix in Q4, but export and disruption concerns persist</a>

Sensex, Nifty50 rise for third straight session; Power Grid, IndusInd Bank, Nestle top gainers

<ul><li>Net sales for the maker of Kitkat and Maggi rose 21% to ₹4,808 crore in the first quarter of its fiscal year 2023.</li><li>The company follows the January-December financial year.</li><li>Its total expenses in the January-March quarter increased 21% from a year earlier to ₹3,874 crore.</li><li>The company has announced a dividend of ₹27 per share.</li></ul>FMCG major Nestlé India on Tuesday reported a better-than-expected 25% rise in net profit to ₹737 crore for the March quarter compared with ₹591 crore in the same period a year ago. As per Kotak Institutional Equities estimates, the FMCG major was expected to report net profit of ₹692 crore. Net sales for the maker of Kitkat and Maggi rose 21% to ₹4,808 crore in the first quarter of its fiscal year 2023 as against ₹3,963 crore in the year-ago period. The company follows the January-December financial year. "I am pleased to share that we have continued to deliver robust sales growth this quarter, which is broad-based with a healthy balance of pricing, volume and mix. This is the highest growth for the company in a quarter in the last 10 years (excluding the exceptional quarter in 2016 which was off a low base in 2015),” said Suresh Narayanan, chairman and MD at Nestle India. Its total expenses in the January-March quarter increased 21% to ₹3,874 crore from ₹3,212 crore during the same period last year. The company has announced a dividend of ₹27 per share. “All our product groups delivered double-digit growth, a notable feature in these past four quarters,” said the company in an exchange filing. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net sales </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,808 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,233 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,963 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹737 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹628 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹591 crore </td></tr></tbody><tbody></tbody></table> Further the company sees early signs of softening of commodities such as edible oils, wheat and packaging materials. However, it expects the cost of fresh milk, fuels, and green coffee to remain firm because of continued increase in demand and volatility. Its exports were up 25% to ₹195.67 crore as against ₹156.64 crore in the corresponding quarter a year ago. Following the results, shares of Nestle India were trading 0.12% higher at ₹20,721 apiece. Meanwhile, shares of other fast-moving consumer goods (FMCG) players were also on the rise. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FMCG players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.03% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radico Khaitan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">United Spirits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.37% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.35% </td></tr></tbody><tbody></tbody></table>Source: NSE (With inputs from PTI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/icici-bank-vs-hdfc-bank-how-indias-top-two-private-lenders-have-performed-in-q4/articleshow/99733618.cms">ICICI Bank vs HDFC Bank: How India’s top two private lenders have performed in Q4</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/flex-operators-lease-as-much-office-space-as-tech-cos-in-jan-march-quarter/articleshow/99727571.cms">Flex operators lease as much office space as tech cos in Jan-March quarter</a>

Nestlé India Q1 net profit jumps 25% to ₹737 crore, beats estimates

<ul><li>Nestle India says that Q2 saw the highest sales growth during a quarter, in the last five years.</li><li>Growth for the quarter was driven by strong sales in Maggi noodles, Milkmaid, Nescafe Classic and Sunrise.</li><li>It sees early signs of stability in prices of edible oils and packaging materials.</li><li>Nestle however adds that fresh milk, fuels, grains and green coffee costs are expected to remain firm.</li></ul>FMCG major Nestlé India reported an 8.3% growth in second quarter net profit to ₹668 crore as compared to ₹617 crore in the same quarter last year. Its revenue from operations grew by 18% to ₹4,591 crore from ₹3,882 crore in Q2FY22. On a sequential basis, its profits grew 29.7% while revenues grew by 13.7%. “I am delighted to share that we have witnessed the highest sales growth during a quarter in the last five years. This achievement has been on continued strong volume and mix evolution with broad based double-digit growth across all categories. Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes including rural markets,” said Suresh Narayanan, chairman and MD at Nestlé India . The company declared its second interim dividend of ₹120 per equity share, amounting to ₹1,157 crore, which will be paid on and from November 16, 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,591 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,036 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,882 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹668 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹515 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹617 crore </td></tr></tbody></table> The FMCG player was able to book healthy profit this quarter as raw material prices of oil and fuel eased after a post-Ukraine war spike. “We are witnessing early signs of stability in prices of a few commodities such as edible oils and packaging materials. However, fresh milk, fuels, grains and green coffee costs are expected to remain firm with continued increase in demand and volatility,” said the company in an exchange statement. Following the better-than-expected results, shares of the company were up 1.22% to ₹19,624 in the mid-afternoon trade. The company said growth was driven by strong sales in Maggi noodles, Milkmaid, Nescafe Classic, Sunrise and packaged mixes for vending machines, during the quarter. Meanwhile, shares of other <keyword id="160413" type="General" weightage="20" keywordseo="FMCG-players" source="Orion">FMCG players</keyword> were also on the rise post the strong results that indicate revival in demand across segments. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FMCG Players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.69% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Varun Beverages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.27% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/moonlighting-is-fine-as-long-as-it-is-unrelated-to-what-we-do-for-our-clients-says-lt-tech/articleshow/94958101.cms">Moonlighting is fine as long as it is unrelated to what we do for our clients, says L&amp;T Tech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/demand-for-russian-crude-oil-picking-up-in-india-china-and-turkey-report/articleshow/94955866.cms">Demand for Russian crude oil picking up in India, China and Turkey: Report</a>

Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2

The stock outliers: HUL, M&M and ITC among top gainers on D-street in the last 30 days

<ul><li>FMCG majors Hindustan Unilever and Nestle have reportedly announced a price hike on a range of daily essential products.</li><li>This comes at a time when the country is facing high inflation rates across sectors.</li><li>Price hike by consumer goods giants amid inflation pressures and weak rural demand speaks a lot about the challenging environment for the sector.</li></ul>Two of the biggest fast moving consumer goods (FMCG) companies have increased prices of a range of products including tea, coffee, milk and noodles. This means your morning coffee, snacks or rather breakfast would cost you more from now on. CNBC-TV18 reported that Hindustan Unilever (HUL) and Nestle have announced a price hike on these products. HUL has hiked Bru coffee powder prices by 3-7% across packs citing significant inflationary pressures. Nestle India has reportedly hiked the price of its popular instant noodles brand Maggi by 9-12%, which turns out to be an increase in Maggi Masala Noodles’ 70 gram pack to ₹14 from ₹12 currently. The FMCG major has also increased the price of 1 litre milk carton by 4% to ₹78 from ₹75 currently. This comes at a time when the country is facing high inflation rates across sectors because of high crude oil prices and <a href="https://www.businessinsider.in/india/news/expect-your-household-budget-to-go-up-sharply-as-prices-of-essential-items-take-a-plunge/articleshow/89954724.cms">other raw materials</a>. In fact, the household budget of an average household has gone up significantly in the last few months because of the soaring inflation that has led to constant increases in prices of commodities like biscuits, soaps, shampoo, oil, milk and now on coffee and Maggi. While inflation was a real problem for the country even before, major macro concerns hit the country a few weeks back. Inflation has shot up because the country is struggling to get enough supply of commodities due to a full-blown war between the two of the biggest producers (Russia and Ukraine) of these commodities. So naturally, less supply and high demand is likely to increase the price of such products. This has led to weak rural demand and hence lower profits for the FMCG brands like HUL, <keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword>, Nestle and so on. Adding to it analysts have also downgraded their rating on FMCG stocks due to this. “We have been underweight on the (FMCG) sector since early 2020; the sector has underperformed in the last two years, with mild de-rating in progress. Despite the correction, we do not see room for any valuation upsides; rather, we expect more valuation risks in the next few years,” said analysts at HDFC Securities in a report dated March 10. The brokerage firm has also cut its multiples for FMCG companies – HUL, Nestle, Britannia and Emami – with a “reduce” rating. Shares of several FMCG companies have given poor returns in 2022 so far. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FMCG players </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2022 so far </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Godrej Consumer Products </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-25.66% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Colgate-Palmolive Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-12.79% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HUL </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-12.69% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-11.91% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-11.65% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-7.99% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-6.92% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-3.49% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-1.02% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-will-now-offer-gold-loans-for-merchant-partners/articleshow/90199544.cms">BharatPe will now offer gold loans for merchant partners</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-partners-with-nazara-tech-to-foray-into-mobile-gaming/articleshow/90198674.cms">Vodafone Idea partners with Rakesh Jhunjhunwala-backed Nazara Tech to foray into mobile gaming</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/dominos-operator-jubilant-foodworks-under-pressure-as-ceo-resigns/articleshow/90195617.cms">Shares of Jubilant FoodWorks plunge as CEO resigns and brokerages downgrade the stock</a>

You may have to shell out more for your morning coffee and noodles

In the case of <keyword id="622298" type="ORGANIZATION" weightage="20" keywordseo="Nestle-India-Ltd">Nestle India Ltd</keyword> Vs Commissioner of Central Excise, Mumbai of 1999, it was ruled that KitKat is a biscuit and not a chocolate that is taxed high. And now with the government’s decision to roll out GST from July onwards, many FMCG companies are getting haunted by the past ghosts. 
 
Just like KitKat is a biscuit, vicks is a medicine, Parachute coconut oil is edible oil. The ambiguity is lot of our everyday necessities is making it difficult for the government to fix the tax. 
 "In the past, several tax officers had challenged some of the product categorisations, including those in the retail segment, but lost out in court or at appellate level," one of the persons in the know told <keyword id="6405564" type="COMPANY" weightage="20" keywordseo="The-Times-Of-India">The Times of India</keyword>. "Now we have a chance to go ahead with specifying the products in a way based on the old cases so that similar situations don't arise." 
 "The GST rates for each and every item are not yet decided as the government is categorising products and what rates can be applied on each category of goods," MS <keyword id="9128" type="PERSON" weightage="20" keywordseo="Mani">Mani</keyword>, senior director, <keyword id="514770" type="COMPANY" weightage="20" keywordseo="Deloitte-Haskins-Sells">Deloitte Haskins &amp; Sells</keyword> told TOI. "There is a chance that some of the old issues raised by the tax department regarding category of certain goods may come back to haunt some companies or products as GST is a new law and can redefine rates and what goods would fall under its preview."

KitKat is a biscuit and Parachute Coconut oil is edible! That's the new topic for GST debate

New Delhi, FMCG major <keyword id="20050617" type="General" weightage="20" keywordseo="nestle-india" source="keywords">Nestle India</keyword> Ltd on Wednesday reported an increase of 4.38 per cent in its net profit at Rs 655.61 crore for the quarter ended December 31. The company had posted a profit of Rs 628.06 crore in the same period a year ago, Nestle India said in a regulatory filing. Nestle India's net rose 8.27 per cent to Rs 4,583.63 crore during the period under review. It was at Rs 4,233.27 crore in the corresponding period of last fiscal. Its total expenses in the December quarter rose 6.11 per cent to Rs 3,636.94 crore. Nestle India's domestic sales were up 8.86 per cent to Rs 4,421.79 crore, as against Rs 4,061.85 crore in the October-December quarter of last fiscal. "Domestic sales grew by 8.9 per cent on the back of pricing and mix growth, with strong growth momentum in e-commerce and out-of-home channels. The quarter was marked by an increase in brand investments across all product groups," said Nestle India Chairman and Managing Director <keyword id="20490363" type="General" weightage="20" keywordseo="suresh-narayanan" source="keywords">Suresh Narayanan</keyword>. However, its exports were down 5.58 per cent to Rs 161.84 crore, as against Rs 171.42 crore in the corresponding quarter a year ago. Nestle India's revenue from operations was up 8.07 per cent to Rs 4,600.42 crore. It was at Rs 4,256.79 crore in the December quarter of last fiscal. Earlier, Nestle India, which followed January-December financial year, had approved the change of the financial year commencing on April 1 and ending on March 31 of the next year. "Consequently, as a transitional arrangement, the current financial year of the company will be for a period of 15 months commencing January 1, 2023, and ending March 31, 2024, while the previous financial year was 12 months, from January 1, 2022, to December 31, 2022," it said. It also added the audited results for the previous financial year are also comparable figures for the 12 months ended December 31, 2023. In 2023, Nestle India's profit was up 25.44 per cent to Rs 2,998.67 crore. It was Rs 2,390.52 crore a year ago. Similarly, revenue from sales of products of Nestle India in 2023 was up 13.3 per cent to Rs 19,021.05 crore. "During the year 2023, our total sales grew by over 13.3 per cent and we crossed Rs 19,000 crore mark," <keyword id="20491958" type="General" weightage="20" keywordseo="narayanan" source="keywords">Narayanan</keyword> said. The board of the company on Wednesday approved slump sale of the Nestle Business Services ('NBS') Division of the company to <keyword id="20491959" type="General" weightage="20" keywordseo="purina-petcare-india" source="keywords">Purina PetCare India</keyword>, a 100 per cent subsidiary of <keyword id="20491960" type="General" weightage="20" keywordseo="nestle-sa" source="keywords">Nestle SA</keyword>, for an aggregate consideration of Rs 79.8 crore. "The transaction shall be effective from July 1, 2024, subject to customary closing conditions," the statement said. The shares of Nestle India were trading at Rs 2,491.55 apiece on BSE, up 1.37 per cent from its previous close.

Nestle India Dec quarter profit rises over 4% to ₹655.6 crore

<ul><li>According to a meta analysis of 100+ MMMs conducted by Nielsen across multiple categories, it was concluded that YouTube now delivers 4.8X greater <keyword id="564674" type="PERSON" weightage="20" keywordseo="Effectiveness">effectiveness</keyword> than TV and impacts incremental sales.</li><li>YouTube in India now reaches over 325 million 18+ unique viewers month on month.</li><li>There's a fundamental shift in viewing habits with 2 out of 3 Indians saying that they would rather give up TV than YouTube for a month. </li></ul>At its annual event Brandcast, YouTube announced that the platform now delivers 4.8X greater effectiveness than TV and directly impacts sales according to Nielsen's analysis. YouTube in India now reaches over 325 million 18+ unique viewers month on month, as per Comscore (May 2020). Underlining the content revolution that is unfolding in the country, YouTube shared that authentic and personable creators are churning out rich and even more diverse content categories like learning and education, platform gaming, food recipes, farming and beauty across regional Indian languages. In his keynote, <keyword id="7694" type="PERSON" weightage="20" keywordseo="Sanjay-Gupta">Sanjay Gupta</keyword>, Country Head &amp; Vice President, Google India, said, “India is seeing its biggest content revolution and there is a fundamental shift in viewing habits with 2 out of 3 Indians saying that they would rather give up TV than YouTube for a month. Online video today is not just about entertainment but also experiences and learning and YouTube is playing the role of a catalyst in bringing this change. Everyday, millions of Indians are coming to YouTube to express their unique passions and create content that is more personal, helpful and accessible. YouTube today caters to the personal interest of a billion Indians across genres, languages, geographies and age groups, making YouTube the #1 platform for accessing videos in regional languages with Hindi leading the charts followed by Tamil, Telugu, Kannada &amp; Bengali and others.” With over 2,500 creator channels now reaching over one million subscribers, YouTube has seen over 45% growth in overall watchtime in July compared to last year for the same period (Comscore). YouTube shared that watchtime of Platform gaming videos in India grew by 2x as compared to Q2 2019 and baking videos grew by 3x during the same duration. And with YouTube becoming an everyday destination for learning and education in India, Wifistudy with over 12 million subscribers and over 1.5 billion views is now amongst the most popular education channels in Asia Pacific by subscribers. YouTube also shared how this content revolution has just not resulted in growth for creators, but today both large and small advertisers are leveraging the platform to drive business results and create unique collaborations with YouTube creators helping brands get better returns over TV. According to a meta analysis of 100+ MMMs conducted by Nielsen across multiple categories, it was concluded that YouTube now delivers 4.8X greater effectiveness than TV and impacts incremental sales. Talking about it’s recent campaign on YouTube, Rashi Goel, Director Marketing and Consumer Communications, Nestle India Ltd. shared how they tapped into consumer interest in recipes that were easy to cook at home during the lockdown. “We worked with the Google team to combine the power of brand Maggi, the trust and engagement enjoyed by YouTube creators and the reach of YouTube. We did a channel takeover of the top 106 food channels on YouTube in India and the results exceeded expectations, reaching over 120mn unique users at the precise moment when food was top of mind for them.” Speaking about how <keyword id="51757" type="COMPANY" weightage="20" keywordseo="TIMES-INTERNET">Times Internet</keyword> leverages YouTube, <keyword id="419256" type="PERSON" weightage="20" keywordseo="Satyan-Gajwani">Satyan Gajwani</keyword>, Vice Chairman of Times Internet, said, “We have gone from using YouTube as a digital equivalent of TV to drive brand awareness in the past to now using YouTube’s growing reach to serve our marketing goals across the funnel - s from driving customer awareness to building brands, and even moving the needle on key conversion metrics across our businesses Last year, we used YouTube to drive viewership of our new show called “Queen” on MX Player, we reached over 78 Mn unique viewers who ended up spending 600 Mn minutes watching the showWe have also tapped into the learning focused audiences on YouTube for live classes on Gradeup, our test preparation platform. For ETMoney, we collaborated with YouTube creators to drive interest in personal finance and as a result reached over 22 million people using the content created with YouTube creators, and our brand searches grew by over 160% after the campaign.” Concluding his remarks, Sanjay Gupta, added, “We are thrilled to see that with our strong reach across the country and high levels of engagement across an unparalleled variety of content, along with the ability to personalize at scale, YouTube today delivers more value to businesses than ever before.” Source: <ul><li>2 out of 3 Indians saying that they would rather give up TV than YouTube for a month - Google/Insight Strategy Group, Consumers &amp; Video Consumption Research, IN, Aug 2019, n=1000 Online video viewers</li><li>YouTube the #1 platform for accessing videos in regional languages with Hindi leading the charts followed by Tamil, Telugu, Kannada &amp; Bengali and others - Google/Kantar, Video Landscape Research, IN, Sep 2019, n=6278 Online video viewers</li><li>YouTube delivers 4.8X greater effectiveness than TV - Commissioned Nielsen MMM meta-analysis, 2016-2018. YouTube effectiveness was 9.87 compared to TV effectiveness of 2.06. Base: A list of studies selected and compiled by Nielsen, consisting of all available CPG studies completed in 2016-2018 that contain YouTube, Other Digital and TV results. This list includes 108 studies for India Brands across the Total CPG category.Incremental offline retail sales measured for TV represents average across all TV broadcasters. Effectiveness is defined as total incremental sales per 1,000 impressions. Studies were excluded if either channel had fewer than 500 impressions. The Effectiveness numbers in the claim are impression-weighted averages across all studies for each channel.</li><li>YouTube had greater incremental sales per impression than TV in 93% of MMMs that measured YouTube, Other Digital and TV in 2016-2018. Commissioned Nielsen MMM meta-analysis, 2016-2018. Base: A list of studies selected and compiled by Nielsen, consisting of all available CPG studies completed in 2016-2018 that contain YouTube, Other Digital and TV results. This list includes 103 studies for India Brands across the Total CPG category.Incremental offline retail sales measured for TV represents average across all TV broadcasters. Effectiveness is defined as total incremental sales per 1,000 impressions. Studies were excluded if either channel had fewer than 500 impressions.</li></ul>

2 out of 3 Indians say they would rather give up TV than YouTube for a month: Sanjay Gupta, Google India

<keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword> is planning to destroy nearly 550 tonnes of <keyword id="726194" type="UNKNOWN" weightage="20" keywordseo="maggi-noodles">Maggi Noodles</keyword> packets as they have passed their shelf life. 
 Nestle India moved the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> for its nod to destroy about 550 tonnes of recalled stock of Maggi Noodles. The company said storage of these packets may lead to health hazard at the 39 locations where it is stored across the country. 
 A bench of Justices Dipak Misra and C Nagappan agreed to hear the plea after it was mentioned by senior advocate Harish Salve saying the food regulator Food Safety and Standards Authority of India (<keyword id="154680" type="ORGANIZATION" weightage="20" keywordseo="FSSAI">FSSAI</keyword>) was not opposed to the company's petition. 
 
Salve said that FSSAI and the company have both agreed to destroy the stock which has crossed its shelf life. 
 
The company said that pursuant to withdrawal announcement and ban order on June 5, 2015, Nestle India Ltd had recalled stocks of Maggi Noodles and till September 1, 2015 destroyed around 38,000 tonnes of Maggi Noodles. 
 
The firm said it had 490 tonnes of stock pending destruction and 60 tonnes was received from the market. Hence, 550 tonnes of stock stored in 39 location across the country needed to be destroyed. 
 
"This entire stock of approximately 550 tonnes is well past its 'best before date' and its storage is giving rise to conditions that may lead to health hazard at the said locations," the plea said. 
 
It said over 38,000 tonnes of Maggi Noodles have been destroyed till September 1, 2015 at incinerators of the notified cement plants, keeping in view environmental requirements.

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