Nestle India announced Q3 Finance results report the Net profit YoY 1.37% down to Rs 587 crore and dividend Rs 135 per shares
India is a packaged foods company on Nestle India announced the Q3 Finance results report net profit down the 1.37% percent year-on-year to this quarter Rs.587 crore as against last year same time net profit Rs.595.27 crore.
The company total sales Rs.3,525 crore this sales growth at 10.2% percent and Domestic Sales Growth at 10.2% percent. profit from operations at 22.9% of sales.
Nestle Board of Director’s approval for interim dividend declared an Rs.135 per equity shares.
We are proud of our 108-years long association with the nation and nearly six-decade-long manufacturing journey. As a vindication of the confidence and trust in the Nestle journey in India, I am pleased to share we plan to invest Rs.2,600 crore over the next three to four years to augment our existing manufacturing capacities, as well as towards our new under construction ‘state of the art’ factory in Sanand, Gujarat.
Nestle India Chairman and Managing Director, Mr. Suresh Narayanan, “I am extremely proud of my team, our distribution partners, hundreds of suppliers including MSMEs, many thousand farmers, agencies, service providers large and small, as well other stakeholders in our business, for their determination, anticipation, tenacity, imagination and sheer hard work that has helped us achieve a strong performance this quarter. This has been achieved in the face of daunting challenges in operations thrown at us by this pandemic.
The quarter witnessed growth driven by an improved supply situation, as our factories returned to normal output. Boosted by an increase in Home consumption, our key brand like MAGGI Noodles, MAGGI Sauces, Kitkat, Nestle Munch, Nescafe Classic, and Nescafe Sunrise witnessed double-digit growth. Demand in ‘Out of Home’ channels improved during the quarter but continues to be impacted due to the overall environment. we continued our strong performance in the e-commerce channels, which grew by 97% and now contributes about 4% of domestic sales.
Nestle India’s current share price Rs. 15,860
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