Packaged foods company Nestle India announced Q2CY23 results: Total sales of Rs 4,619.5 crore Total sales growth at 15.0%. Domestic sales growth at 14.6% Profit from operations at 20.7% of Sales Net profit of Rs 698.3 crore Earnings per share of Rs 72.43 Commenting on the results, Suresh Narayanan, Chairman and Managing Director, Nestle India, said, "I am pleased to share that we have, yet again, delivered robust performance, with all product groups registering double-digit growth. This is the fifth quarter in a row of double-digit growth across ALL product groups. Domestic sales growth is broad-based and grew by 14.6%, on the back of prudent pricing and supported by mix and volume with targeted brand support. Key brands continued to perform well, led by KITKAT, NESCAFE, and MAGGI among others. The out-of-home business continued to deliver strong growth this quarter, through a pivot of dual strategies in terms of portfolio transformation and robust precise execution of differentiated channel and geography plans to harness big growth opportunities. Our RURBAN strategy was helped by increasing the distribution footprint with the relevant portfolio, thereby achieving higher penetration. We witnessed strong growth across Megacities and Metros, robust performance in Tier 1 to 6 towns, and continued strength in rural markets. E-commerce continued to perform strongly and now accounts for almost 6.5% of sales. We have renewed and indeed accelerated our focus on brand building and continued to make relevant investments during this quarter. The focus on Innovation and Renovation remained, and as examples we launched three notable new products in the Indian market - Resource Fiber Choice, a unique and effective gut health solution that is proven to help relieve constipation and improve gut health, Everyday Zero - the dairy whitener with no added sugar and MUNCH Breakfast Cereals. "Make in India" has always remained the cornerstone of our industrial footprint strategy and I am pleased to announce that Odisha has been identified as the state that will be home to Nestle India's TENTH factory. We have now received an "in principle" approval from the Industrial Promotion & Investment Corporation of Odisha Limited (IPICOL). Our dream and ambition are to also make the Odisha factory "State of the art" in line with our continuing commitment to gender diversity, sustainable manufacturing, paperless digitally managed facility with an abiding focus on the environment in terms of practices. Like all our other factories, the Odisha factory too will remain committed to serving the local communities through relevant societal initiatives. Dignity, respect, and equal opportunity are enshrined in the pillars of the 'Purpose and Values' of Nestle India. It gives me immense pride to announce that we have recruited 12 persons with disabilities to work on our production line at our Sanand factory. We remain committed to the path of diversity and inclusion in various parts of our business with the necessary commitment and resources to propel such initiatives. I would like to thank our diverse team who make 'Performance with Pride' happen at Nestle India with diligence, commitment, ethics, teamwork, compassion, and humility -our employees, partners, suppliers, distributors, and retailers for their unwavering faith and wholehearted support in our company's journey in the past decades." Result PDF