FMCG major, Nestle India, reported 11% growth in net profits for the Jun-20 quarter at Rs.487 crore. However, the growth in total revenues was a lot more tepid. The total sales revenues for the quarter were up 2% at Rs.3041 crore. While domestic sales were up by 2.6%, the export sales were lower by 9.3%, with COVID-19 impacting sales across the board.

Nestle factories operated at 75% capacity leading to lower than potential sales during the quarter. Suresh Narayanan, CEO of Nestle India, conceded that June had shown good traction compared to April and May but the quarter surely got impacted. Nestle is known for marquee products like Maggi noodles, Nescafe and Everyday Dairy whitener.