According to the firm, demand in 'out of home' channel that comprises a significant part of its portfolio, improved through the quarter. However, it continues to be impacted by Covid-related disruptions. Its ‘other income’ decreased due to lower yields and lower average liquidities, it said. Further, its employee benefit expenses grew by over 15 per cent due to the incentives it offered to production manpower in view of Covid.
“I am extremely proud of my team, our distribution partners, hundreds of suppliers including MSMEs, many thousand farmers, agencies, service providers large and small, as well other stakeholders in our business, for their determination, anticipation, tenacity, imagination and sheer hard work that has helped us achieve a strong performance this quarter. This has been achieved in the face of daunting challenges in operations thrown at us by this pandemic”, said Suresh Narayanan, chairman and managing director, Nestle India.
While, till the end of the last quarter some disruptions were impacting its factory operations by end-September, its factories returned to normal output. During the quarter, its growth was driven by an improved supply situation, as factories returned to normal output.
“Boosted by an increase in in-home consumption, our key brands like Maggi noodles and sauces, KitKat, Munch and Nescafe witnessed double digit growth. Demand in ‘Out of Home’ channels improved during the quarter but continues to be impacted due to the overall environment. We continued our strong performance in the e-commerce channels, which grew by 97 per cent and now contributes about 4 per cent of domestic sales”, he said.
has declared an interim dividend of Rs 135 per equity share, amounting to Rs 1,302 crore.