Nestle India reports double-digit growth in Q3 domestic sales

20 Oct 2023 , 10:06 AM

Nestle India’s domestic sales increased by double digits in the third quarter as a result of mix, volume, and pricing, the firm said in a stock market filing on Thursday.

The company has crossed the turnover of Rs 5,000 crore which has been its first in the history of the company in any quarter and is a landmark.

Nestle attributed the company’s rise to consumer patterns and a rising tendency for brand acceptance in small towns and big villages.

According to the business, inconsistent rain had an influence on the production of vital commodities such as maize, sugar, and spices, causing prices to skyrocket.

Nestle’s third-quarter profit was Rs 908 crore, against the street estimates of Rs 799 crore. Further, the company also declared a second interim dividend of Rs 140 per share.

According to the company, e-commerce generated 6.1% of quarterly revenues, with sustained growth across channels powered by Quick Commerce.

Even while the prices of essentials such as vegetables and dairy products have gone up, Indian consumers, particularly those in cities, have not shied away from investing in low-cost pleasures such as chocolates and biscuits.

 

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