Nestle India Q1 CY23 results: Net profit increased by 24.7% YoY to ₹ 736.64 crore; Declared interim dividend of ₹ 27 per share

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.

share price on the screen
Share price (Image: Meel Bijendra/Agrika)

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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.

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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.

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