BackKellogg India net profit up 43% in FY22
Revenues for the financial year 2021-22 were up 14% at ₹1,352 crore
PremiumNEW DELHI : Breakfast cereal maker Kellogg India Private Limited, which manufactures and markets ready-to-eat cereal and other convenience foods, reported a 43% jump in FY22 net profit at ₹103 crore, according to financial data accessed by business intelligence platform, Tofler. In the year ago period the company had reported a net profit of ₹71.7 crore.
Meanwhile, revenues for the financial year 2021-22 were up 14% at ₹1,352 crore, according to data sourced from Tofler. The company’s total expenses for the fiscal were up 13.1% at ₹1,217 crore.
Demand for packaged foods reported an uptick in the aftermath of the pandemic as consumers cooked and consumed more food at home. Households also pivoted to branded and packaged foods.
In India, the company sells Kellogg’s corn flakes, Chocos, muesli, oats, granola and upma. Kellogg’s cereals, made in India, are consumed in the country and exported to markets such as Sri Lanka, Nepal, Bangladesh and Maldives.
Earlier this year the company had appointed Prashant Peres as its managing director for its India and South Asia markets. Peres assumed the new role in January based out of the company’s Mumbai office.
Peres succeeded Mohit Anand who assumed the role of general manager, snacks portfolio, for Kellogg AMEA region—Asia Pacific, Middle East and Africa, based in Singapore.
Last year, the company expanded its product portfolio in India adding the Froot Loops brand of cereals in the country.
The company started its operations in India by setting up a manufacturing plant at Taloja (Maharashtra) in 1994. It added a second manufacturing facility at Sri City (Andhra Pradesh) in 2015. The company had also established a Research and Development Centre in India that caters to the demand of the South Asian markets for Kellogg.
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