5 key takeaways from Nestle Indias third-quarter results
Nestle India crossed the barrier of Rs 5,000 crore revenue for the first time in its history as the consumer product company reported its third-quarter results on Thursday.
As consumer products company Nestlé India announced its strong set of third-quarter results on Thursday (October 19), it scaled some new heights on its way to performance. The most glittering was it crossed the Rs 5,000 crore revenue barrier for the first time in its history, cashing in on double-digit domestic sales growth.
While Nestle India's board approved the proposal to split the stock, it also declared a handsome interim dividend of 1400 per cent to its shareholders.
In this write-up, ZeeBiz will highlight the five key takeaways from Nestle India's third-quarter results for the current financial year.
Revenue touches a Rs 5,000 high
The company reported 9.4 per cent growth to Rs 5009.5 crore in its consolidated revenue from operations in the quarter under review.
The performance came on the back of a 10.3 per cent jump in the company's domestic sales.
Though Nestle India slightly missed Zee Business research estimates of Rs 5,028 crore in terms of revenue, it crossed the Rs 5,000-crore revenue barrier for the first time in its history.
PAT beats Research estimates
The company's consolidated net profit soared 37.4 per cent to Rs 908 crore year-on-year, beating analysts' estimates of Rs 768 crore by huge margins.
Heavy Interim dividend
The company announced a second interim dividend of 1400 per cent for its shareholders.
The dividend stands at Rs 140 per equity share of Rs 10 each.
Nestle India's board has fixed November 1 as the record date for the dividend, while the ex-date for the same is November 16.
Share split
The company's board also announced a stock split in the ratio of 1:10.
It means every share a shareholder holds will be subdivided into 10 shares.
The board didn't announce the record date for the sub-division or the split of the existing equity shares.
Margin
The company's Year-on-Year margins rose to 24.3 per cent in the current quarter from 22.1 per cent in the same quarter last year, beating research estimates of 23 per cent.
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