FMCG major Nestle India on Tuesday reported an increase of 24.69 per cent in its net profit at Rs 736.64 crore for the first quarter, helped by robust volume growth and pricing.

The company, which follows the January-December financial year, had posted a net profit of Rs 590.77 crore in the same period a year ago, Nestle India said in a regulatory filing.

Nestle India’s net sales rose 20.43 per cent to Rs 4,808.40 crore during the period under review against Rs 3,962.84 crore in the corresponding period last fiscal, the company said.

“We have continued to deliver robust sales growth this quarter, which is broad-based with a healthy balance of pricing, volume, and mix,” Nestlé India chairman and managing director Suresh Narayanan said.

This is the highest growth for Nestle India in any quarter in the last 10 years, except the quarters of 2016 which was off a low base in 2015 due to the Maggi crisis.

“All our product groups delivered double-digit growth, a notable feature in these past four quarters in a row,” he said.

During the March quarter, Nestle India’s revenue from operations was up 20.98 per cent to Rs 4,830.53 crore.

Nestle India’s total expenses in the January-March quarter were at Rs 3,873.76 crore, up 20.61 per cent, against Rs 3,211.78 crore in the corresponding period.

In the March quarter, Nestle India’s domestic sales were up 21.18 per cent to Rs 4,612.73 crore against Rs 3,806.20 crore in the January-March of 2022. Its milk products and nutrition registered strong double-digit growth, despite commodity pressures. The coffee business Nescafe recorded its highest-ever market share in the first quarter.

“Confectionery led by KitKat, and Munch posted strong growth, supported by consumer-led campaigns, innovation and engagement. Beverages turned in another quarter of robust growth and market share gains led by Nescafe Classic, Nescafe Sunrise, and Nescafe GOLD,” said Narayanan.