Nestle India Q3 results: Profit rises 8% to Rs 668 crore; Rs 120 per share dividend announced
Nestle India said it is witnessing early signs of stability in prices of a few commodities such as edible oils and packaging materials. But fresh milk, fuels, grains and green coffee costs are expected to remain firm, it said.
- Oct 19, 2022,
- Updated Oct 19, 2022 1:43 PM IST
Nestle India on Wednesday reported an 8.25 per cent year-on-year (YoY) rise in net profit at Rs 668.34 crore for the September quarter compared with Rs 617.37 crore in the corresponding quarter last year. Revenue from operations rose 18.24 per cent to Rs 4,591 crore in the third quarter from Rs 3,882.57 crore in the same quarter last year. This was the highest sales growth for Nestle India 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. Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes including rural markets,” said Chairman and Managing Director, Suresh Narayanan.
Also read: Results today: What analysts say on Nestle India, IndusInd Bank & UltraTech Cement Nestle India said it is 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, it said in a filing to BSE.
The FMCG firm said its e-commerce channel has showed strong acceleration, with growth being largely fuelled by new, emerging formats such as ‘quick commerce’ and ‘click & mortar’. These new formats contributed 7.2 per cent to the quarterly sales, Nestle India said.
The organised trade channel, it said, continues to witness strong growth across customers and categories in the wake of high footfalls. The Out of Home channel grew at a robust pace, driven by faster channel reopening and business led initiatives, Nestle India said, adding that.
The company board had declared second interim dividend for 2022 of Rs 120 per share, amounting to Rs 1,157 crore, which will be paid on and from November 16. This is in addition to the first interim dividend of Rs 25 per equity share paid on May 6.
Nestle India on Wednesday reported an 8.25 per cent year-on-year (YoY) rise in net profit at Rs 668.34 crore for the September quarter compared with Rs 617.37 crore in the corresponding quarter last year. Revenue from operations rose 18.24 per cent to Rs 4,591 crore in the third quarter from Rs 3,882.57 crore in the same quarter last year. This was the highest sales growth for Nestle India 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. Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes including rural markets,” said Chairman and Managing Director, Suresh Narayanan.
Also read: Results today: What analysts say on Nestle India, IndusInd Bank & UltraTech Cement Nestle India said it is 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, it said in a filing to BSE.
The FMCG firm said its e-commerce channel has showed strong acceleration, with growth being largely fuelled by new, emerging formats such as ‘quick commerce’ and ‘click & mortar’. These new formats contributed 7.2 per cent to the quarterly sales, Nestle India said.
The organised trade channel, it said, continues to witness strong growth across customers and categories in the wake of high footfalls. The Out of Home channel grew at a robust pace, driven by faster channel reopening and business led initiatives, Nestle India said, adding that.
The company board had declared second interim dividend for 2022 of Rs 120 per share, amounting to Rs 1,157 crore, which will be paid on and from November 16. This is in addition to the first interim dividend of Rs 25 per equity share paid on May 6.