इंडियन आवाज़     21 May 2024 04:27:44      انڈین آواز

Nestle India share surges 4%, hits fresh record high after Q3 earnings

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Nestle India share price surged over 4 per cent to hit its fresh record high in intraday trade on BSE on Thursday, October 19 after the company reported its September quarter (Q3CY23)

Nestle share price opened at ₹23,279.90 against the previous close of ₹23,269.65 and rose about 4.12 per cent to hit its all-time high of ₹24,228.75 on BSE. The stock finally closed 3.66 per cent higher at ₹24,122.

During market hours on Thursday, Nestle India reported a net profit of ₹908 crore in the quarter ended September 2023, registering a growth of 37.27 per cent from ₹661.46 crore in the same quarter last year. The net profit for the quarter includes a one-time gain of ₹106.4 crore.

The company’s revenue in Q3CY23 increased 9.5 per cent to ₹5,036.8 crore from ₹4,601.8 crore in the year-ago period.

Besides, the board of directors of Nestle India declared a second interim dividend payout.

“The board of directors have declared a second interim dividend for 2023 of ₹140 per equity share (face value ₹10 per equity share) amounting to ₹1,349.82 crore, which will be paid on and from November 16, 2023. This is in addition to the first interim dividend of ₹27 per equity share paid on May 8, 2023,” said Nestle in an exchange filing on Thursday.

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