Nestle India Q3CY24 Results

• Nestle India reported a 5% quarter-on-quarter (QoQ) increase in its consolidated revenues for the calendar year quarter ended September 2024 (Q3CY24). On a year-on-year (YoY) basis, it witnessed a growth of 1%.
• Its expenses for the quarter were up 6% QoQ and 3% YoY.
• While the net profit increased by 20% QoQ, it was down by 1% on a YoY basis.
• The earnings per share (EPS) of Nestle India stood at 9.3 during Q3CY24.

Nestle India Financial Statements for Q2CY24:

Financials:

Financial Highlights - Quarter 2, 2024-25: Standalone

• Total Sales of ₹5,074.8 crores
• Total Sales Growth at 1.3%. Domestic Sales Growth at 1.2%.
• Profit from Operations at 21.0% of Sales
• Net Profit of INR 986.4 crores
• Earnings Per Share of INR 10.23.

Management Commentary:

Suresh Narayanan, Chairman and Managing Director, Nestlé India:

• Despite challenges like muted consumer demand and high commodity prices, Nestlé delivered growth, with five of the top 12 brands seeing double-digit growth.
• Key brands faced pressure, but robust action plans are in place to address softer demand.
• 65% of the top brands, including MAGGI noodles, saw positive volume growth in the last 9 months.
• Beverages like NESCAFÉ and MILKMAID posted strong double-digit growth.
• Nestlé continues to focus on core brands, with increased marketing investments and digital enhancements.
• Innovation remains key, with 145 new products launched in 8 years, contributing to 7% of sales.
• CERELAC now offers 14 sugar-free variants as it celebrates 50 years in India.

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