Nestle India Q1CY24 Quarter Results
Nestle India reported 9% YoY revenue growth
- 29 Apr 2024
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- Nestle India reported 14% quarter-on-quarter (QoQ) increase in its consolidated revenues for the calendar year quarter ended March 2024 (Q1CY24). On a year-on-year (YoY) basis, it witnessed a growth of 9%.
- Its expenses for the quarter were up by 11% QoQ and 5% YoY.
- While the net profit increased by 43% QoQ, it was up by 27% on a YoY basis.
- The earnings per share (EPS) of Nestle India stood at 9.7 during Q1CY24.
Nestle India Financial Statements for Q1CY24:
| (Rs, crores) | Q1CY23 | Q4CY23 | Q1CY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 4,864 | 4,631 | 5,294 | 14% | 9% |
Total expenses | 3,874 | 3,637 | 4,054 | 11% | 5% |
Profit before tax | 990 | 886 | 1,251 | 41% | 26% |
Tax | 254 | 231 | 316 | 37% | 24.3% |
Profit after tax | 737 | 656 | 935 | 43% | 27% |
Earnings per share | 7.6 | 6.8 | 9.7 |
Key Highlights:
- Net Profit: Increased by 26.8% to Rs 935 crore compared to Rs 737 crore in Q4FY23.
- Revenue: Grew by 9% to Rs 5,294 crore from Rs 4,864 crore in the corresponding quarter of the previous year. This marked the first time Nestle India's domestic sales crossed the Rs 5,000 crore mark.
- Confectionery: Delivered a strong performance, driven by KitKat. India became the second-largest market for the brand globally.
- Beverage Business: Recorded robust performance.
- Dividend: Nestle India has decided on a final dividend of Rs 8.50 per equity share
Management Commentary:
- Nestle India has approved the launch of Nespresso in the country and looks forward to participating in selling and distributing Nespresso’s products.
- Nestle India is also partnering with Dr. Reddy's Laboratories to launch a nutraceutical joint venture in India (Q2 FY 2024-25). The venture combines Nestle's global health products with Dr. Reddy's strengths in nutraceuticals and Indian market reach. This collaboration aims to be a major player in the Indian nutraceutical market.
Data Source: BSE, Company announcements
Disclaimer: The content of this post is intended solely for educational purposes and should not be regarded as financial advice. Past performance is not indicative of future results. The securities and assets mentioned serve purely as illustrations only and should not be taken as recommendations for investment. Please note that the information presented is compiled from several sources available on the internet. We strongly advise consulting with a qualified financial advisor prior to making any investment decisions. Read the full disclaimer here.
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