Analysts had expected the fast-moving consumer goods company to report net profit of Rs 589 crore on sales of Rs 3,598.1 crore.
“As the pandemic rages on, the quarter gone by has been another test of resilience to deliver double digit growth over a strong comparable in 2020,” said chairman and managing director Suresh Narayanan.
The company’s domestic sales in the quarter grew at a scorching pace of 10.2 per cent on a year-on-year basis, which was higher than analysts’ estimates of 7-9 per cent.
The company said that growth during the quarter was broad-based led by volumes.
The company said that the e-commerce channel continued to show traction as it grew 66 per cent from a year-ago quarter and contributed to 3.6 per cent of the overall sales.
Mindful of the recent spike in commodity prices, Nestle India said that it is witnessing headwinds in commodity and packaging materials.
The company also declared an interim dividend of Rs 25 per share that will entail an outlay of Rs 241 crore.
Shares of the company ended 0.2 per cent higher at Rs. 17,115 on the National Stock Exchange.
