Nestle India share price rises 4%, hits fresh record high after Q3 earnings; here's what experts say
₹23,279.90 against the previous close of ₹23,269.65 and rose about 3.8 per cent to hit its all-time high of ₹24,164.40 on BSE. Around 12:50 pm, the stock traded 3.28 per cent higher at ₹24,033 on the BSE. During market hours on Thursday, Nestle India reported a net profit of ₹908 crore in the quarter ended September 2023, registering a growth of 37.27 per cent from ₹661.46 crore in the same quarter last year.
The net profit for the quarter includes a one-time gain of ₹106.4 crore. The company's revenue in Q3CY23 increased 9.5 per cent to ₹5,036.8 crore from ₹4,601.8 crore in the year-ago period. EBITDA in the July-September quarter rose 21.3 per cent to ₹1,225 crore from ₹1,009.6 crore, YoY.
EBITDA margin decreased by 220 basis points (bps) to 24.3 per cent from 22.1 per cent, YoY. Read More: Nestle India Q3 Results: Net profit rises 37% YoY; board approves ₹140 dividend; 1:10 stock split (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Besides, the board of directors of Nestle India declared a second interim dividend payout.
"The board of directors have declared a second interim dividend for 2023 of ₹140 per equity share (face value ₹10 per equity share) amounting to ₹1,349.82 crore, which will be paid on and from November 16, 2023. This is in addition to the first interim dividend of ₹27 per equity share paid on May 8, 2023," said Nestle in an exchange filing on Thursday. In addition, the board approved the subdivision of shares, or the split of existing equity shares with a face value of ₹10 each that are fully paid up, into ten (10) equity shares with a face value of Re 1 each that are fully paid up, subject to the
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