Parle

With a 9 per cent increase in net sales at Rs 16,202 crore the profit of the biscuit maker slipped 81 per cent to Rs 256 crore during the year ending March. The company said that its value for money plank especially for Parle G have been important in the brand’s growth, consistently over the years

The Parle Products crossed 2 billion dollars in annual revenues during FY22. It became India’s first packaged food company to breach the mark. It retails brands such as Parle G, Monaco and Melody,

With a 9 per cent increase in net sales at Rs 16,202 crore the profit of the biscuit maker slipped 81 per cent to Rs 256 crore during the year ending March. In the last year, it had recorded sales of Rs 14,923 crore and profit of Rs 1,366 crore, the company revealed during filing to the Registrar of Companies.

The company said that its value for money plank especially for Parle G have been important in the brand’s growth, consistently over the years. It was even more during inflationary times when consumers cut their spends and opted for smaller packs.

According to the senior category head at Parle Products, Mayank Shah, rural areas drove the growth more, which accounted between 55 to 60 per cent of the overall sales. Also, the company expanded its distribution nearly by 12 per cent last year, which helped the company.

The profit in the previous year was beyond expectation which did not demand any schemes or promotions in the trade. Also, advertisements were curtailed which led to saving a significant level of variable costs during Covid, he added.