Q2 growth easing, but still higher than pre-COVID: Parle Products

Growth in the second quarter moderated during August and September, Mayank Shah, Senior Category Head, Parle Products, said in an interview with CNBCTV18.

While the second quarter growth was lower compared to the first quarter of this year, it is still higher than pre-COVID levels, Shah said. He expects the current rate of growth to sustain as consumers are showing preference for branded products, and said that Parle’s premium products were seeing traction.

Shah said that the first two quarters of this year has been exceptionally good for all processed food companies and that the category as a whole would see strong growth.

He said the company has not let go any employees, and that gross margins for this year were likely to improve 40-45 percent.

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