On Tuesday 25 April, Nestlé India Limited, an Indian subsidiary of Swiss multinational company Nestle, released the results of the January-March quarter i.e. Q1 CY2023. Nestle India Limited recorded an increase of ₹ 736.64 crores in its net profit in quarter 1 of the current year 2023 (Q1 CY23) with an increase of 24.7% year-on-year.
The company’s current year 23 quarter 1 domestic sales increased from 21.18% year-on-year to Rs 4,612.73 crore, while export sales increased from 24.9% to Rs 195.67 crore.
Nestlé Company’s products include food, beverages, chocolate, and confectionery. The company benefited from higher prices and steady demand for Kit-Kat and Munch chocolates as well as instant coffee but “We are seeing early signs of softening in commodities such as edible oil, wheat, and packaging material,” the company said.
Nestle India Limited’s Revenue from Operations in Q1 Current Year 23 stood at ₹ 4,830.53 Crore as compared to ₹ 3,992.64 Crore in the corresponding quarter last year. Nestle India shares are trading at 20,340.05, down 1.4% in early session today.
The company have declared an interim dividend for 2023 of ₹ 27 per equity share which will be paid on and from 8th May 2023 along with the final dividend for 2022 of ₹ 75 per equity share approved in the Annual General Meeting (AGM) on 12th April 2023.