Last updated: 24 Oct, 2020 | 12:18 pm
Nestle India Ltd., Indian subsidiary of swiss multinational company, declared their Q3 results, beating analysts’ numbers on all fronts. Nestle India follows the calendar year for financial reporting.
Profit: Net profit declined 1.4% year-on-year to ₹ 587 crore, however, the same was incomparable as the September 2019 quarter saw adjustment based on changing tax rate. Profit before tax grew 12.4% to ₹ 786.5 crore.
Sales: Nestle India reported a double-digit sales growth year-on-year for quarter ending September 2020. Domestic sales grew 10.2% to ₹ 3,525 crore, ahead of expectations. Export sales grey 9.4% year-on-year.
EBITDA: Nestle India saw an EBITDA increase of 15.3% year-on-year to ₹ 883.6 crore, while margin expanded 112bps (1.12%).
Interim Dividend: An interim dividend of ₹ 135 per equity share held was declared for 2020, with total payment to shareholders of ₹ 1301.61 crore.
Nestle India Ltd. Share closed at ₹ 15,865.45 last trading day of the week. Nestle plans to invest ₹ 2600 crore in India over next 3-4 years. With more than 108 years of association, the investment will plan to augment the existing manufacturing capacities and the ‘state of the art’ factory in Sanand, Gujarat. With factories turning to normal output and double-digit growth in key brands, boosted by in-home consumption, Nestle India is believed to continue with steady sales growth in its major brands.