Nestle India Q3 Results: Net profit rises 37% YoY; board approves ₹140 dividend; 1:10 stock split

livemint.com:

₹908 crore in the quarter ended September 2023, registering a growth of 37.27% from ₹661.46 crore in the same quarter last year. The net profit for the quarter includes one-time gain of ₹106.4 crore. Nestle India’s revenue in Q3CY23 increased 9.5% to ₹5,036.8 crore from ₹4,601.8 crore in the year-ago period.

“Domestic sales grew double digit, on account of mix, volume and price. We crossed INR 5,000 crore turnover, which has been our first in any quarter in the history of the Company and a landmark for us," said Suresh Narayanan, Chairman and Managing Director, Nestlé India. At the operating level, earnings before interest, tax, depreciation and amortization (EBITDA) in the July-September quarter rose 21.3% to ₹1,225 crore from ₹1,009.6 crore, YoY.

EBITDA margin decreased by 220 basis points (bps) to 24.3% from 22.1%, YoY. “Uneven rain and rain deficit is expected to impact production of maize, sugar, oilseeds and spices that may have an adverse impact on pricing. Coffee continues to be volatile because of the global supply deficit.

The weather during the harvest of the Indian Robusta crop may impact production. Upcoming winter weather may impact wheat production. Healthy milk flush is expected in winter which is expected to keep prices stable," Nestle India said in a release.