Nestle India share price extended gains to hit a fresh record high on Friday after the company reported strong earnings for the quarter ended September 2023. Nestle India shares rallied as much as 1.90% to ₹24,580.35 apiece on the BSE.
FMCG major Nestle India reported a 37.27% rise in its net profit for the quarter ended September 2023 at ₹908 crore from ₹661.46 crore in the same quarter last year.
Nestle India’s revenue in Q3CY23 increased 9.5% to ₹5,036.8 crore from ₹4,601.8 crore in the year-ago period.
EBITDA in the July-September quarter rose 21.3% to ₹1,225 crore from ₹1,009.6 crore, YoY. EBITDA margin decreased by 220 basis points (bps) to 24.3% from 22.1%, YoY.
The company’s Board of Directors declared a second interim dividend for 2023 of ₹140 per equity share and also approved a share split in the ratio of 1:10.