The Indian arm of two leading US based consumer goods makers, Mondelez India Foods and Procter & Gamble Home Products reported over two times surge in net profit in the pandemic year, 2020-21.
As per the latest regulatory disclosures to the Registrar of Companies (RoC), Mondelez India Foods’ revenue surged by 10% to Rs. 8038 crores in 2020–21, while net profit jumped by 297% to Rs. 1,001 crores in the year under review. Procter & Gamble Home Products reported a 7% jump in revenue at Rs. 6,314 crores, while net profit surged by 217% at Rs. 483 crores.
According to the RoC data accessed through business intelligence platform Tofler, Mondelez’s total expenses for FY21 were Rs. 6,771 crores, while those of Procter & Gamble Home Products were Rs. 5,648 crores.
In its RoC filings, Mondelez did not share any details on business performance or the surge in profit during FY21.
Industry executives said both the companies’ revenue grew due to pandemic related pantry stocking and consumers preferring to buy snacks at home with restricted mobility, while net profit surged as they controlled their expenses including distribution cost and focus on e-commerce sales.