Nestle India earnings highlights: Net profit rises 28% YoY to ₹934 crore, final dividend announced

Nestle India Earnings Live Update at 03:37 pm: Nestle India January-March quarter results highlights

• Nestle India's net profit for January-March quarter stood at ₹934 crore against ₹736 crore in year-ago period, reflecting an increase of 26%
• Total revenue for the quarter increase by 9% to ₹5,267 crore from ₹4,830 crore in the corresponding period last year
• The board has recommended a final dividend of ₹8.5 per share

Nestle India Earnings Live Update at 03:36 pm: Shares of Nestle India closed with 2.47% gains at ₹2,562 on the National Stock Exchange (NSE). Intraday, the stock recorded a high of ₹2,577.90.

Nestle India Earnings Live Update at 03:10 pm: Nestle reported a net profit of ₹3,933 crore for the fifteen months ended March 31, 2024. It had reported a net profit of ₹2,390 crore for December 31, 2022 (January-December period).

Nestle India Earnings Live Update at 02:34 pm: How Nestle stock reacted after result announcement

Shares of the packaged food company were trading at ₹2,560, reflecting a gain of 2.39%, on the NSE. Intraday, the stock hit a high of ₹2,577.90.

Nestle India Earnings Live Update at 02:01 pm: In an exchange filing, Nestle said, "India emerged as the largest market worldwide for Maggi".

Nestle India Earnings Live Update at 02:01 pm: In an exchange filing, Nestle said, "India emerged as the largest market worldwide for Maggi".

Nestle India Earnings Live Update at 01:42 pm: Management on launch of Nespresso

Suresh Narayanan, Chairman and Managing Director, Nestle India said, "I am very happy that Nespresso will soon be available for consumers, coffee aficionados and coffee connoisseurs in India, to unlock new experiences and discover extraordinary coffees. In recent years, coffee consumption in India has witnessed a surge, with a discernible trend towards inhome consumption. A growing young population, exposure to global trends, and new experiences has established India as one of the fastest-growing coffee markets for Nestlé.”

Guillaume Le Cunff, CEO of Nestle Nespresso S.A., said, "I am delighted that we will be introducing Nespresso to coffee lovers in India. For almost 40 years, NESPRESSO has been committed to elevate the coffee experience through our signature taste, and our commitment to sustainability embodied in our firm belief that coffee can be a force for good. After sourcing green coffee from India since 2011, I am excited to see the brand continue to grow in this promising coffee market".

Nestle India Earnings Live Update at 01:32 pm: Product groups performance

• Prepared dishes and cooking aids – Growth momentum was aided by strong consumer engagements, media campaigns, innovations and enhanced rurban penetration. Strong innovation and renovation thrust, launched Maggi Oats Noodles with Millet Magic, Korean Noodles, MAGGI Teekha Masala and MAGGI Chatpata Masala variants.
• Milk products and nutrition – Milkmaid and ready-to-drink (RTD) delivered strong growth.
• Confectionery – Growth was fueled by the launch of new products, increased media exposure, a more extensive and expanding distribution network, and innovative brand activations.
• Beverages – Nescafe Classic, Nescafe Sunrise, and Nescafe Gold, delivered strong double-digit growth. This resulted in the highest-ever yearly increase in household penetration and market share in 2023.
• Petcare business – Strong focus on e-commerce accelerated the reach of product portfolio to more pet families.

Nestle India Earnings Live Update at 01:25 pm: Nestle India will convene 65th annual general meeting (AGM) of the company on July 5, 2024.

Nestle India Earnings Live Update at 01:24 pm: On a sequential basis, the total revenue grew by 14% Quarter on Quarter, largely aided by 43% sequential growth in export volumes, the company said.

Nestle India Earnings Live Update at 01:22 pm: Nespresso to be launched in India

Board of Directors of Nestle India has approved launch of Nespresso in India wherein the company will engage in the sale and distribution of Nespresso products (machines and capsules) through its distribution network, online channels, and boutiques under commercial arrangements with Nespresso and third parties. The Company expects to launch Nespresso in India by the end of 2024.

Nestle India Earnings Live Update at 01:18 pm: What management said on Nestle India Q1 CY25 results?

Suresh Narayanan, Chairman and Managing Director, Nestle India said, “I am pleased to share that we have delivered double-digit growth, despite challenges posed by rising food inflation and volatile commodity prices. We have witnessed a strong growth momentum across our product portfolio led by a combination of pricing and mix. Our domestic sales crossed ₹5,000 crore this quarter, a notable milestone for us. I would like to extend my heartfelt gratitude to my colleagues, distributors, retailers and partners for their unwavering dedication, determination, and diligence.

Nestle India Earnings Live Update at 01:16 pm: Stock recovers from day lows to trade 2% higher at ₹2,547 apiece on the NSE.

Nestle India Earnings Live Update at 01:15 pm: On a yearly basis, the revenue for the FY24 rose by 44% YoY to ₹23,300 crore as against ₹16,097 crore in FY23.

Nestle India Earnings Live Update at 01:14 pm: Management outlook on commodity

Commodity prices are seeing unprecedented headwinds in Coffee and Cocoa with all time high prices and an ongoing price rally. Cereals and grains are going through a structural cost increase backed by MSP. Milk prices are expected to rise mainly due to the harsh summer season.

Nestle India Earnings Live Update at 01:11 pm: Operating profit (EBITDA) for the quarter increased by 23% YoY largely aided by lower finance costs and raw material costs, the company said in a regulatory filing.

Nestle India Earnings Live Update at 01:10 pm: Nestle India's joint venture with Dr Reddy's

Board of Directors of Nestle India has approved to form a joint venture between the Company and Dr. Reddy’s Laboratories Limited to bring together the well-known global range of nutritional health solutions as well as vitamins, minerals and health supplements of Nestlé Health Science with the nutraceuticals portfolios, strong and established commercial strengths of Dr Reddy’s in India and other geographies.

The joint venture is expected to become operational in the second quarter of the financial year 2024-25, subject to customary closing conditions.

Nestle India Earnings Live Update at 01:06 pm: Total revenue for the quarter increased by 9% YoY to ₹5267 crore. In the year-ago period, it was ₹4830 crore.

Nestle India Earnings Live Update at 01:02 pm: Nestle India January-March quarter net profit rose by 28% year-on-year (YoY) to ₹934 crore vs ₹736 crore in previous year same quarter.

Nestle India Earnings Live Update at 01:02 pm: Board of Directors of Nestle India has recommended final dividend of ₹8.50 per equity shares of ₹1 each for the fifteen months financial year ended 31st March 2024 on the entire issued, subscribed and paid-up share capital of the company of 964,157,160 equity shares of nominal value of ₹1 each.

Nestle India Earnings Live Update at 12:51 pm: Shares of Nestle India were trading at ₹2,512, up 0.49%, on the NSE.

Nestle India Earnings Live Update at 12:45 pm: Popular products

• Maggi
• Nescafe
• Nestea
• Koko Krunch
• BarOne
• KitKat
• Munch
• Milkybar
• A+ toned milk
• Milkmaid

Nestle India Earnings Live Update at 12:29 pm: Board of Directors

• Suresh Narayanan- Chairman and Managing Director
• Svetlana Boldina- Executive Director, Finance & Control and CFO
• Satish Srinivasan- Executive Director, Technical
• R. V. Kanoria- Independent Non-Executive Director
• P. R. Ramesh- Independent Non-Executive Director
• Anjali Bansal- Independent Non-Executive Director
• Alpana Parida- Independent Non-Executive Director
• Suneeta Reddy- Independent Non-Executive Director

Nestle India Earnings Live Update at 11:19 am: About the company

Nestle India is a subsidiary of Nestle S.A. of Switzerland. The company has eight factories and a large number of co-packers in India.

"Nestle is the world’s largest food and beverage company. We have more than 2000 brands ranging from global icons to local favourites, and we are present in 191 countries around the world," the company said in its website.

Nestle India Earnings Live Update at 11:06 am: F&O strategy: How to trade in Nestle India ahead of its Q1 results?

Open interest data of Nestle India’s 30 May expiry shows significant call and put at the 2500 strike. The combined premium of both the call and put comes at ₹140. This means, the traders are expecting a movement of ±5.6% ahead of the 30 May expiry.

To read more, click here.

Nestle India Earnings Live Update at 10:54 am: Shares of Nestle India were trading at ₹2,512.85, up 0.15%, on the NSE.

Nestle India March quarter results LIVE: Nestle India will release its financial results for the January-March quarter of calendar year 2024-25 (Q1 CY25). The company follows a January to December calendar year.

Shares of Nestle India were trading at ₹2,524.20, up 0.96%, on the NSE at 10:34 am. The stock opened at ₹2,519 on Thursday.

Other companies that will release their earnings today include Bajaj Finance, IndusInd Bank Ltd, ACC, L&T Technology Services, Som Distilleries & Breweries Ltd, Tech Mahindra, Aavas Financiers, Ashish Polyplast, Bank of Maharashtra, Comfort Fincap, Himadri Speciality Chemical, Glenmark Life Sciences, UTI Asset Management Co, Wardwizard Innovations & Mobility, Zensar Technologies, Dr Agarwals Eye Hospital and Kirloskar Pneumatic Co among others.