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Nestlé India Q1, 2016: Further Improvement in Sequential Performance
Results for the quarter have been impacted by the MAGGI Noodles issue in 2015.
Net Sales Rs.2296 Crores
Operating Profit 19.4 % of Net Sales
Net Profit / (Loss) Rs.259 Crores
Earnings per share Rs.26.86
Interim Dividend Rs.12.00 per equity share
NESTLÉ HOUSE, Gurgaon, 12th May 2016: The Board of Directors of Nestlé India met today at Nestlé House and approved the results for Q1, 2016.
Commenting on the results Mr. Suresh Narayanan, Chairman and Managing Director of Nestlé India said, “Our results show further improvement in sequential performance, both in sales and margins. This is extremely satisfying as we move ahead and rebuild our business, particularly MAGGI Noodles, after a tough year. MAGGI Noodles has already regained leadership with over 50% of market share within five months of re-launch. I am delighted that in a recent survey of India’s Brands by TRA in October/November 2015, MAGGI has emerged as the Most Trusted Brand in the Fast Moving Foods category.
We are gearing up for volume growth with renewed focus and commitment on consumer relevant innovation and renovation. Recent launches of the four variants of MAGGI Noodles and additionally MUNCH Nuts, KITKAT Duo, NESTLÉ a+ GREKYO and NESCAFE SUNRISE Insta-Filter are precursors to products which are in different stages of readiness for launch. We are working on increasing penetration for all our businesses including ‘Milk and Nutrition’, ‘Chocolate and confectionary’, and ‘Coffee and Beverages’. I remain optimistic about our future performance and I am confident about our Teams’ ability and commitment to make it happen.”
NET SALES
Results for the quarter have been impacted by the MAGGI Noodles issue in 2015.
‘Net Sales’ for the quarter were Rs.2296 Crores and decreased by 8.4% compared to the same period in 2015. ‘Net Domestic Sales’ decreased by 8.7%. ‘Export Sales’ decreased by 4.8%.
However, sequential growth in sales during the quarter has shown further improvement.
NET PROFIT
Net Profit at Rs.259 Crores for the Quarter has decreased from Net Profit of Rs.320 Crores in the same period in 2015.
However, margins have improved sequentially.
DIVIDEND
The Board of Directors have declared an interim dividend for 2016 of Rs.12.00 per equity share (Face value Rs.10/- per equity share) amounting to Rs.116 Crores, which will be paid on and from 31st May, 2016.
