Nestle India Q3 Results: Net profit up 6% YoY at Rs 696 crore; Rs 14.25 per share dividend declared

Nestle India reported a 6.2 per cent jump in quarterly standalone net profit at Rs 696 crore, in line with Street estimates, as the  packaged foods major  sold more of its powedered and liquid  beverages which includes popular coffee brand Nescafe,  during the quarter ended December 31. Net profit stood at Rs  655.6 crore in the same quarter last year on a standalone bases.

On a consolidated basis, net profit rose 5 per cent to Rs 688 crore. A Moneycontrol poll of 10 brokerages expected the Maggie noodle maker to post  net profit at Rs 696 crore. Analysts ecpecte revenue to rise 3.9 per cent at Rs  Rs 4,781 crore compared to Rs 4,600 crore reported in the same quarter last year.

Quarterly revenue was  up 3.9 percent YoY at Rs 4,780 crore, in line with the estimates.

Commenting on the results, Mr. Suresh Narayanan, Chairman and Managing Director of Nestlé India stated, “This quarter 3 out of 4 product groups delivered healthy growth led by a combination of pricing and volume. Key brands continue to perform and this augurs well in a challenging environment."