Nestle India Registers 8% YoY Rise In Q3 Profit

The company also declared its second interim dividend of Rs 120 per equity share, amounting to Rs 1,157 crore, which will be paid on and from November 16, 2022

Nestle India on Wednesday released it financial numbers for the quarter ended September 2022 and reported an 8.3 per cent jump in its post-tax profit at Rs 668 crore. On a sequential basis, the profit is 29.7 per cent higher from Rs 515 crore posted in June quarter this year. Revenue for the quarter under review came in at Rs 4,591 crore, rising 18.3 per cent year-on-year (YoY). Sequentially, the revenue is higher by 13.7 per cent from Rs 4,036 crore.

The company also declared its second interim dividend of Rs 120 per equity share, amounting to Rs 1,157 crore, which will be paid on and from November 16, 2022. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the company grew 6.7 per cent YoY to Rs 1,011 crore. EBITDA margin declined 250 bps to 22 per cent due to raw material price inflation.

“We have witnessed the highest sales growth during a quarter in the last five years. This achievement has been on continued strong volume and mix evolution with broad based double-digit growth across all categories,” Suresh Narayanan, Chairman and Managing Director, Nestle India said.

“We are witnessing early signs of stability in prices of a few commodities such as edible oils and packaging materials. However, fresh milk, fuels, grains and green coffee costs are expected to remain firm with continued increase in demand and volatility,” Narayanan added.