Nestle India Q1 profit grows by 25%, revenue up by 21%

FMCG giant Nestle India has posted its Q1 results for the year 2023. The company revealed that its profit rose 24.7% YoY to Rs 736 crore, with double-digit growth in revenue through healthy domestic and export sales. 

This is the highest growth that the company has recorded in a quarter, in the last 10 years, according to the brand’s chairman and managing director, Suresh Narayanan. 

Nestle’s net sales surged by 21.3% to Rs 4,808 crore for the quarter, surpassing industry expectations. The brand will be paying a dividend of Rs 27 per equity share, along with the final dividend of Rs 75 per equity share for 2022. 

Chairman and Managing Director Suresh Narayanan said, "All our product groups delivered double digit growth, a notable feature in these past four quarters in a row. Confectionery led by KITKAT, and MUNCH posted a strong growth, supported by consumer led campaigns, innovation and engagement."

"Prepared Dishes and Cooking Aids delivered strong growth across all products in its portfolio. One can discern portfolio upgradation happening in this category. Milk products and Nutrition continued its strong performance led by Milkmaid among others,” he further added.