Nestle India Q4 PAT rises 66% YoY to ₹628 crore; stock up nearly 2%

FMCG major Nestle India on Thursday reported a net profit of ₹628 crore in the fourth quarter of CY22 (Q4CY22), up 66% year-on-year (YoY). It was ₹379 crore in the year-ago period. Shares of Nestle India Limited were trading 1.84% higher at ₹19,614.40 per share on the NSE during noon deals.

The company, which follows a January-December financial year, announced its financial results on Thursday, 16 February.

The coffee and tea manufacturing company's revenue from operations came in at ₹4,257 crore, up 13.5 per cent as compared to ₹3,748 crore in the year-ago period.

The company's Board of Directors have also recommended a final dividend of ₹75 per equity for the year 2022.

The Maggi and Kitkat maker's both topline and bottom-line numbers have met Street expectations of ₹4,395 crore and ₹611 crore, respectively.

Suresh Narayanan, Chairman and Managing Director at Nestle India said, "I am delighted to share that we delivered our highest double‐digit growth in a decade led by sustained volume and mix-led growth, leading to strong value growth. In 2022 total, sales grew by 14.5% and domestic sales increased by 14.8%, with broad-based performance across all categories."

"2022 was an extraordinary year, where adversities were aplenty, where the efforts of the Nestlé team and all our partners and stakeholders were stretched and where every new day brought a fresh challenge," Narayanan added.