Nestle Q3 Result: Company reports 8% NET PROFIT, highest sales growth in 5 years - Details here

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New Delhi: FMGC major and parent company of Maggi brand Nestle India announced on Wednesday its Q3 profit result. It has increased 8.3% YoY to Rs 668 crore in September. According to the exchange filing by the company, the quarterly revenue increased 18.3% YoY to Rs 4,591 crore.

"This achievement has been on continued strong volume and mix evolution with broad-based double-digit growth across all categories. Growth has been very strong in the large metros and mega cities and continued to be robust across smaller town classes including rural markets," Nestle Chairman and MD Suresh Narayanan said.

The company recorded total sales of Rs 4,567 crore in Q3 of the current fiscal -- highest sales growth during a quarter in the last five years, according to the company. The total sales growth stood at 18.2 per cent. The company's domestic sales grew at 18.3 per cent in the quarter.

"We are witnessing early signs of stability in prices of a few commodities such as edible oils and packaging materials. However, fresh milk, fuels, grains and green coffee costs are expected to remain firm with continued increase in demand and volatility," Nestle said in the filing.

Nestle  Dividend 2022

Meanwhile, the company has declared second interim dividend for 2022 of Rs 120 per equity share (face value Rs 10 per equity share) amounting to Rs 1157 crore, which will be paid on and from November 16. This is in addition to the first interim dividend of Rs 25.00 per equity share paid on May 6.