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Nestle India Reports 4.4% Rise in Q4 Profit, Achieves Record Sales of Over ₹19,000 Crore in 2023

7 Feb 2024 , 03:27 AM

Nestle India reported a 4.4% rise in Q4CY23 net profit to 655.6 Crore. Revenue from operations for the same quarter increased by 8.05% YoY to 4,600 Crore. Total income from operations for the 12 months ended December 31, 2023, was 1.689 Lakh Crore, up 13% from the previous year.

Nestle India’s shares rose by 2% to trade at 2,511.55 apiece after the earnings announcement. Earnings Before Interest Tax Depreciation and Amortization (EBITDA) for the quarter was 1,077 Crore, up 10.2% from the same quarter last fiscal year.

Domestic sales in the quarter grew by 8.9%, driven by pricing, mix growth, and strong performance in e-commerce and out-of-home channels.

The quarter saw increased brand investments across all product groups. Total sales for the year 2023 grew by over 13.3%, crossing the 19,000 Crore mark.

The company registered a one-time loss of 107.3 Crore due to a change in the cost of servicing the defined pension benefit. The board announced a third interim dividend for CY23 of 7 per equity share, amounting to 674.91 Crore, to be paid on March 5, 2024.

Nestle India approved the slump sale of its Nestle Business Services (NBS) Division to Purina PetCare India for 79.8 Crore.

For feedback and suggestions, write to us at editorial@iifl.com

 

Related Tags

  • Nestle Business Services
  • Nestle India
  • Purina PetCare India
  • Q4
  • Q4 Profit
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