 "Nestle India net profit jumps 23.9%, all products see double-digit growth")
Nestle India on Tuesday reported a 23.9 per cent jump in net profit to Rs 737 crore in the quarter ending March (Q4FY23) as compared to Rs 595 crore last year. The total sales during the quarter were Rs 4,808 crore.
The FMCG company reported a 21.3 per cent growth in total sales during the quarter. Domestic sales jumped 21.2 per cent. The profit from operations was 21 per cent of the total sales.
The company also declared an interim dividend of Rs 27 per share.
"All our product groups delivered double-digit growth, a notable feature in these past four quarters in a row," said Suresh Narayanan, chairman and managing director (MD), Nestlé India.
"Confectionery led by Kitkat, and Munch posted strong growth, supported by consumer-led campaigns, innovation and engagement. Beverages turned in another quarter of robust growth and market share gains led by Nescafe Classic, Nescafe Sunrise, and Nescafe Gold. Prepared Dishes and Cooking Aids delivered strong growth across all products in its portfolio. One can discern portfolio upgradation happening in this category. Milk products and Nutrition continued its strong performance led by Milkmaid among others," he added.
The company's earnings per share were Rs 76.4.