Inferred volume growth for Nestle India in the most recent quarter is 3-4%

19 Oct 2023 , 11:54 AM

Due to pricing, volume, and mix, FMCG giant Nestle India’s domestic sales increased by double digits in the third quarter, the firm reported in a stock exchange filing on Thursday.

Nestle India Chairman and Managing Director Suresh Narayanan stated, ‘We crossed Rs 5,000 crore turnover, which has been our first in any quarter in the history of the company and a landmark for us.’

According to Nestle, the company’s success has been driven by consumer trends and a growing inclination towards brand acceptance in both large and small villages.

Nestle reported a profit of Rs 908 crore compared to a poll estimate of Rs 799 crore in the quarter that ended in September. A second interim dividend of Rs 140 was declared by the firm.

Nestle reaffirmed its forecast for organic sales growth in the range of 7% and 8% for the entire year, as well as an operating profit margin for trading between 17.0% and 17.5%.

In order to satisfy the Indian diaspora, the company expanded its portfolio in important international markets, which led to growth. There was strong demand for the Maggi and Nescafe Sunrise product lines in mainstream and ethnic distribution channels.

The Nestle India Board of Directors has declared a second interim dividend for 2023, equal to Rs 1,349.82 crore, or Rs 140 per equity share with a face value of Rs 10. 

According to Nestle India, the second interim dividend for 2023 will be distributed on and from November 16, 2023, to members whose names are listed in the company’s register of members and who are listed as beneficial owners in the depositories as of the record date, which is November 1, 2023.

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