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Nestle India beats projections, takes net profit up 25% to Rs 736 crore in Q1

 

Nestle India, the house of Kitkat chocolates and Maggi noodles, reported a net profit of Rs 736 crore for the March quarter, making a 24.7 percent jump over the year-ago period.


Financial Highlights – Q1 2023: 

  • Total Sales of INR 4,808 Crore.
  • Total Sales Growth at 21.3%. Domestic Sales Growth at 21.2%.
  • Profit from Operations at 21.0% of Sales. 
  • Net Profit of INR 737 Crore
  • Earnings Per Share of INR 76.4. 
  • Interim Dividend INR 27.00 per equity share declared on 12th April, 2023

This is a big beat on estimates that had pegged the Nestle net profit at Rs 674 crore. The company follows a January to December financial year.

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Revenue from operations jumped 21.3 percent year-on-year to Rs 4,830 crore. On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) came in at Rs 1,098 crore, up 18 percent.

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