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April 25, 2024

Nestle India Reports Robust Q4 Results: Net Profit Surges 27% to Rs 934 Crore, Revenue Up 9%

Nestle India announced its financial results for the fourth quarter of the fiscal year 2023-24, showcasing impressive growth despite economic challenges. The company reported a net profit of Rs 934.17 crore, marking a significant 27% increase compared to the same period last year.

Revenue for the quarter stood at Rs 5,294.34 crore, up by 9% from the previous year. This growth was driven by various factors including increased domestic sales, successful product portfolio management, and expansion in key segments.

The company’s total expenses rose by 4.65% to Rs 4,053.84 crore, attributed to various operational and strategic investments. However, the growth in revenue outpaced the increase in expenses, reflecting operational efficiency.

Nestle India’s Earnings before interest, taxes, depreciation, and amortization (Ebitda) surged by 21.8% to Rs 1,337 crore, with an Ebitda margin improvement of 270 basis points to 25.4%. This indicates improved profitability and operational performance.

Sequentially, net profit saw a remarkable increase of 42.5% from the previous quarter, reflecting sustained growth momentum. Total income also witnessed a substantial rise of 14.3% compared to the last quarter, while total expenses increased by 11.5%.

For the entire 15-month financial period ending on March 31, 2024, Nestle India reported a net profit of Rs 3,932.84 crore, marking a remarkable 64.5% surge compared to the previous 12-month financial year. Total income for this extended period increased by 44.38% to Rs 24,541.85 crore.

Commenting on the results, Suresh Narayanan, Chairman and Managing Director of Nestlé India, expressed satisfaction with the company’s performance despite challenges posed by rising food inflation and volatile commodity prices. He attributed the growth to a combination of pricing strategies and product mix optimization.

Narayanan highlighted the strong performance across various segments including Confectionery, Beverages, Milk Products, and Nutrition. He emphasized the success of brands like KitKat and Nescafe, which have gained significant traction in the Indian market.

The board of directors has recommended a final dividend of Rs 8.50 per equity share for the 15-month financial year, underlining the company’s commitment to value creation for its shareholders.

In conclusion, Nestle India’s robust financial performance in Q4 reflects its resilience and adaptability in navigating market challenges while driving sustained growth across its product portfolio.

Jhumpa Lahiri

Jhumpa Lahiri

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