Nestle Q4 Earnings: Net profit down 20% at Rs 387 crore, misses Street estimates; revenue up 9%

Nestle India witnessed broad-based, double-digit volume- and mix-led growth despite a highly volatile economic environment, said Chairman and Managing Director Suresh Narayanan.

"Strong growth momentum continued in Maggi noodles aided by increased availability. Kitkat and Munch registered stellar growth throughout the year. Nescafe Classic continued to deliver double digit growth. Growth in e-commerce was fuelled by new emerging formats such as 'quick commerce' and 'click and mortar'," he said.

: Banks, FMCG cos won’t deliver strong compounding growth, says Shankar Sharma

He also said the company continues to witness high inflation in key raw and packaging material, but will continue to make all efforts towards cost optimisation and systematic efficiencies to mitigate its impact.

Nestle India's total sales saw an increase of 10.1 percent in 2021, and domestic sales 10.7 percent, he said.

Nestle India reported Rs 865.7 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA), up 11.4 percent on year.

Its EBITDA  margin improved to 23.1 percent in the October-December period from 22.6 percent in the year-ago period.

Analysts had estimated the company's EBITDA at Rs 850 crore and EBITDA margin at 22.4 percent.

Nestle India's board declared a dividend of Rs 65 per share.

Nestle shares closed 0.9 percent lower at Rs 18,090 apiece on BSE after the earnings announcement.