Nestle India Q3 results: Profit jumps 37% to Rs 908 crore;

The FMCG major also announced the division or split of shares with a face value of Rs. 10 apiece into 10 equity shares with a face value of Rs. 1 along with the announcement of a second interim dividend of Rs. 140 for the fiscal year.

Results for Nestle India’s third quarter show a 37% increase in profit and an announcement of a dividend and stock split.

The profit after tax for the September quarter for Nestle India Ltd. increased by 37.28% year over year (YoY) to Rs. 908.08 crore from Rs. 661.46 crore in the same quarter last year.

When compared to the same quarter previous year, operating revenue increased by 9.45% YoY to Rs 5,036.82 crore ($601.84 billion). According to Nestle India, domestic sales climbed 10.3% for the quarter on a wide basis, with cautious pricing supported by mix and volume.

The creator of Maggi claimed that Quick Commerce-driven continuous development across product groups amounted to 6.1% of the quarterly sales through its e-commerce channel. It claimed that organized trade continued to produce solid double-digit growth.

Indian Robusta crop output may be impacted by the weather during harvest. Wheat production may be impacted by the impending winter weather. Healthy milk production is anticipated in the winter, which should keep prices steady, it stated.

The company’s board of directors declared a second interim dividend for 2023 of Rs 140 per equity share, or Rs 1,349.82 crore, to be paid on and beginning with November 16. In addition, the first interim dividend of Rs. 27 per share, which was paid on May 8, was also received.

Nestle India management’s statements

We have strong and considerable investments across all product categories as we work to increase our brand equity. We reached Rs 5,000 crore in revenue, which was a first for the company and a significant milestone for us.

With a focus on portfolio change, global development, and major infrastructure investment, the out-of-home business continued to produce double-digit growth. 6.1% of the quarterly sales came from e-commerce, which has continued to increase across all channels thanks to Quick Commerce.