Nestle India Q2CY24 Quarter Results
Nestle India reported 4% YoY revenue growth
- 26 Jul 2024
- Nestle India reported an 8% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the calendar year quarter ended June 2024 (Q2CY24). On a year-on-year (YoY) basis, it witnessed a growth of 4%.
- Its expenses for the quarter were down by 5% QoQ and up 3% YoY.
- While the net profit decreased by 20% QoQ, it was up by 7% on a YoY basis.
- The earnings per share (EPS) of Nestle India stood at 7.7 during Q2CY24.
Nestle India Financial Statements for Q2CY24:
| (Rs crores) | Q2CY23 | Q1CY24 | Q2CY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 4,682 | 5,294 | 4,853 | -8% | 4% |
Total expenses | 3,743 | 4,054 | 3,844 | -5% | 3% |
Profit before tax | 939 | 1,251 | 1,009 | -19% | 7% |
Tax | 241 | 316 | 262 | -17% | 9% |
Profit after tax | 698 | 935 | 747 | -20% | 7% |
Earnings per share | 7.2 | 9.7 | 7.7 |
Financials:
- Net Profit: ₹746.6 crores, up 7% from ₹698.3 crores in Q1 FY24.
- Sales Growth: 3.8% overall, with domestic sales growing at 4.2%.
- Profit from Operations: 21.3% of total sales.
- Revenue from Operations: ₹4,814 crores, a 3.3% increase from ₹4,658.5 crores YoY.
- EBITDA: ₹1,103 crores, reflecting a 4.3% growth from ₹1,058.8 crores in the previous year.
- EBITDA Margin: Increased by 20 basis points to 22.9% from 22.7% YoY.
- Earnings Per Share (EPS): ₹7.74.
- Interim Dividend: ₹2.75 per equity share.
Management Commentary:
Mr. Suresh Narayanan, Chairman and Managing Director of Nestlé India, said,
“I am pleased to share that despite external challenges such as lower consumption growth, concerns on continued food inflation and volatile commodity prices, we have delivered growth across our product groups. Almost a fourth of our growth has been mix and volume-led, and we hope to strengthen this trend in the coming months.”
Data Source: BSE, Company announcements
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