Mondelez India reports 8% jump in FY20 revenues1 min read . Updated: 16 Oct 2020, 05:53 PM IST
- The maker of Dairy Milk chocolate and Oreo cookies reported a net profit of ₹252 crore in FY20, down from the ₹461 crore it posted in the year ago period
New Delhi: Packaged foods company Mondelez India Foods Private Limited reported a 45% drop in net profit for the year ended 31 March 2020, according to data sourced from business intelligence platform Tofler.
The maker of Dairy Milk chocolate and Oreo cookies reported a net profit of ₹252 crore in FY20, down from the ₹461 crore it posted in the year ago period. The company reported a one-time exceptional item that dragged down the company’s profitability for the year.
For the full year, the company that sells chocolates, biscuits and health-food drinks reported an 8% jump in revenues at ₹7,278 crore. The company’s total expenses for the fiscal stood at ₹6,248 crore.
Mondelez India did not comment on queries from Mint on the company’s financials.
Several companies that rely on out of home consumption of their products were impacted as the pandemic-induced lockdown clamped down on movement of people. Meanwhile, the company accelerated new food launches such as packaged cakes, to capitalize on the trend of in-home consumption that saw consumers eat more snacks. Earlier this year it also launched breakfast cereals under the Bournvita brand.