Mondelez India FY24 Profit Soars 72% to Rs 2,020.8 cr

New Delhi, Nov 12 (PTI) Confectionary major Mondelez India Foods Pvt Ltd posted a 71.85 per cent increase in profit at Rs 2,020.87 crore in FY24, according to the RoC filing from the beverages major.

The company's sales (revenue from operations) rose 13.3 per cent to Rs 12,746.98 crore in FY24, the filing added.

The total consolidated income of Mondelez India Foods, which owns iconic brands such as Cadbury Dairy Milk, 5 Star and Gems, has also climbed 20.7 per cent to Rs 13,782.45 crore for the financial year ended on March 31, 2024, as per the financial data accessed through business intelligence platform Tofler.

Mondelez India Foods reported a profit of Rs 1,175.93 crore and revenue from operations of Rs 11,246.93 crore in FY23.

During FY24, the company's 'advertising promotional expenses' grew 14.8 per cent to Rs 1,603.15 crore. The same stood at Rs 1,396.5 crore in the preceding fiscal.

Total expenses of Mondelez India were 11.9 per cent higher at Rs 11,080.72 crore in FY24.

Similarly, its total tax expense rose by 64.1 per cent to Rs 680.86 crore.

Mondelez India Foods, earlier known as Cadbury India, is a part of Mondelez International, Inc.

Mondelez India also provides malted food drinks under the Bournvita brand and powdered beverages under brand Tang.

Besides, it sells biscuits under the brand name of Oreo and Bournvita and candy under the brand name of Halls and Chocolairs.

Earlier this year, the company was in the news over a row on the content of Bournvita. A controversy was raised after a viral Instagram reel questioned the claims made by the beverage of boosting immunity and providing several health benefits.

The said video was removed from Instagram after the company served a legal notice.

Later, the Ministry of Commerce issued an advisory to e-commerce companies in April.

In the advisory, the government asked all the e-commerce companies to remove drinks and beverages, including Bournvita, from the health drinks category from their portals.