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Nestle India Q3CY24 Results

Nestle India reported a 1% YoY revenue growth
  • 21 Oct 2024
Read Full Article >
  • Nestle India reported a 5% quarter-on-quarter (QoQ) increase in its consolidated revenues for the calendar year quarter ended September 2024 (Q3CY24). On a year-on-year (YoY) basis, it witnessed a growth of 1%.
  • Its expenses for the quarter were up 6% QoQ and 3% YoY.
  • While the net profit increased by 20% QoQ, it was down by 1% on a YoY basis.
  • The earnings per share (EPS) of Nestle India stood at 9.3 during Q3CY24.

Nestle India Financial Statements for Q2CY24:

(₹ crores) Q3CY23 Q2CY24 Q3CY24 QoQ (%) YoY (%)
Total income
5,070
4,853
5,111
5%
1%
Total expenses
3,954
3,844
4,090
6%
3%
Profit before tax
1,222
1,009
1,200
19%
-2%
Tax
314
262
301
15%
-4%
Profit after tax
908
747
899
20%
-1%
Earnings per share
9.4
7.7
9.3

Financials:

Financial Highlights - Quarter 2, 2024-25: Standalone

  • Total Sales of ₹5,074.8 crores
  • Total Sales Growth at 1.3%. Domestic Sales Growth at 1.2%.
  • Profit from Operations at 21.0% of Sales
  • Net Profit of INR 986.4 crores
  • Earnings Per Share of INR 10.23.

Management Commentary:

Suresh Narayanan, Chairman and Managing Director, Nestlé India:

  • Despite challenges like muted consumer demand and high commodity prices, Nestlé delivered growth, with five of the top 12 brands seeing double-digit growth.
  • Key brands faced pressure, but robust action plans are in place to address softer demand.
  • 65% of the top brands, including MAGGI noodles, saw positive volume growth in the last 9 months.
  • Beverages like NESCAFÉ and MILKMAID posted strong double-digit growth.
  • Nestlé continues to focus on core brands, with increased marketing investments and digital enhancements.
  • Innovation remains key, with 145 new products launched in 8 years, contributing to 7% of sales.
  • CERELAC now offers 14 sugar-free variants as it celebrates 50 years in India.

Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

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