Mumbai: Nestle India, the house of Kitkat chocolates and Maggi noodles, reported a net profit of Rs 736 crore for the March quarter, making a 24.7 percent jump over the year-ago period.
The company follows a January to December financial year.
Revenue from operations jumped 21.3 percent year-on-year to Rs 4,830 crore. On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) came in at Rs 1,098 crore, up 18 percent.
Margins at 22.7 percent were lower than 23.4 percent in the year-ago period. Estimates had pegged margin at 23 percent. The company expects cost of fresh milk, fuels, and green coffee to remain firm because of continued increase in demand and volatility.
Soon after the results announcement, the stock took a sharp knock falling over 1.5 percent at 11 am. But, it recovered to trade flat by 11:15 am.
The company's board has declared an interim dividend for 2023 of Rs 27 per equity share amounting to Rs 260 crore. The dividend will be paid on and from 8th May 2023 along with the final dividend for 2022 of Rs 75 per share.
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