New Delhi, Jan 31 (IANS) Nestle India on Friday announced a 5 per cent increase in its consolidated net profit, at Rs 688 crore, in the third quarter of financial year 2024-25, as compared to Rs 655 crore in the same period of the last fiscal.
The company witnessed profit in Q3 due to higher sales of its powdered and liquid beverages, including the popular Nescafe coffee brand.
Nestle India declared a second interim dividend of Rs 14.25 per equity share for the financial year 2024-25 which amounts to Rs 1,373.92 million.
This dividend will be paid from February 27 and follows the first interim dividend of Rs 2.75 per share, which was paid on August 6, 2024.
The company’s total revenue from operations during the quarter stood at Rs 4,779 crore, which was a 4 per cent growth from Rs 4,600 crore in the same quarter last year (Q3 FY24).
The company saw a 3 per cent growth in volume, with domestic sales accounting for 95 per cent of its total revenue, according to its stock exchange filing.
However, domestic sales reached Rs 4,566 crore with a 3.27 per cent year-on-year increase. Export revenue also rose by 2.17 per cent.
Nestle India’s EBITDA was Rs 1,103 crore in Q3 which was slightly higher than Rs 1,095 crore in the previous quarter. The company maintained a margin of 23 per cent.
“This quarter, 3 out of 4 product groups delivered healthy growth led by a combination of pricing and volume,” Nestle India Chairman and Managing Director Suresh Narayanan said.
He further added that the key brands continue to perform, and this augurs well in a challenging environment.
Nestle have been able to pass on some of the increased costs to consumers, with price hikes in products like soap, tea, coffee, noodles, biscuits, and chocolates. This has helped to preserve margins.
The company anticipates that the costs of milk and packaging will remain stable.
The market reacted positively to the results as Nestle India’s stock closed at Rs 2,345 apiece by climbing 6 per cent.
–IANS
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