Nestle India’s net profit for the quarter ended September 30, 2023, jumped 36% year-on-year to Rs 908 crore. The company’s revenue from operations increased 9.5% to Rs 5,036 crore.
Nestle India’s board of directors has also approved a stock split in the ratio of 1:10. This means that every one share of Nestle India will be split into 10 shares. The stock split will be effective on November 17, 2023.
The company’s performance was driven by strong sales growth in its prepared dishes and confectionery businesses. Nestle India’s Maggi noodles brand continued to be a strong performer, with sales growing 15% year-on-year.
Nestle India’s chairman, Suresh Narayanan, said that the company is well-positioned to continue its growth momentum in the coming quarters. “We have a strong portfolio of brands and a wide distribution network. We are also investing heavily in innovation and new product development,” he said.
Nestle India’s stock has risen 15% in the past year, outperforming the broader market. The stock is currently trading at a price-to-earnings ratio of 50x.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
