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Mondelez India Foods Pvt Ltd, known for brands Cadbury and Oreo, witnessed a high single digit increase in revenues in 2019-20 over the previous fiscal year.
The local subsidiary of the American packaged food company posted revenues of ₹7,278 crore in the financial year ended 2019-20, up 8 per cent compared to the previous fiscal.
According to financial data accessed by business intelligence platform Tofler, the company’s net profit for the period stood at ₹252 crore, recording a 45 per cent decrease compared to the previous financial year due to one-time exceptional item. The company’s total expenses for the fiscal stood at ₹6,248 crore.
With the pandemic outbreak, packaged food companies have been sharpening their focus on in-home consumption and have been fast tracking new launches to meet the evolving needs of the consumers, as out-of-home sales channel were severely disrupted.
Mondelez India has also been focussing on new launches this year to tap into the rising in-home consumption. The company recently forayed in the breakfast cereals space with the launch of Bournvita Fills and in the cake segment with Cadbury Chocobakes. Companies with a presence in categories such as biscuits also gained immensely as consumers are staying and working from home this year due to the pandemic. Chocolate companies are betting big on the upcoming festival season as over the years, consumers have been shifting toward chocolate gifting from traditional sweets.
The company did not respond to BusinessLine queries on its financial performance.
In July, Nielsen India slashed its growth forecast for the FMCG sector in the country and expects it to be nearly flat in the range of 1 per cent to -1 per cent for the full year of 2020.