9 Aug 2017

Nestle India marketshare, plus plus

In the Consumer sector, Nestle India continued its push to recover market share with a 7% advance in sales while rising costs brought a reduction of 6% in profits. Agro Tech Foods reported a drop of 1.8% in sales and an increase of 6% in profits. ITC suffered a heavy drop of 24.3% in sales but grew profits by 7.4%. Pidilite reported sales down by 2.1% and profits by 16.8%. The company saw a sharp reduction in channel inventories combined with rising raw material prices. It raised its advertising substantially to support wholesalers and dealers through the GST adoption process. In IT, HCL Tech reported a rise of 7.4% in revenues and 8.3% in profits as it worked through the completion of recent acquisitions.

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