MARKET OVERVIEW :
Indian Share Market Update on October 19, 2023
Sensex, Nifty pare most of morning losses and are down by around 120 and 30 pts, respectively. Bajaj Auto and LTIM shine, while Wipro drags Nestle India Q3 Results: Net profit rises 37% YoY; board approves ₹140 dividend; 1:10 stock split: IndusInd Bank profit jumps 22% on strong retail loan demand. Rupee trades flat at 83.25 against US dollar in early trade Q2 results today: HUL, ITC to Nestle India — 32 companies to declare earnings on Thursday TCS share price in focus as the IT stock turns ex-dividend today Indian central bank likely offering US dollars to defend rupee – traders Coal India board meeting on Nov 10 to consider dividend, Q2 results.
The Board of Directors of Nestle India declared a second interim dividend for 2023 of ₹140 per equity share of face value ₹10 each amounting to ₹1,349.82 crore. The dividend will be paid on and from November 16, 2023.Nestle India sells packaged foods and beverages under brands such as Maggi, Milkmaid, Kit-Kat etc.
Nestle India reported a net profit of ₹908 crore in the quarter ended September 2023, registering a growth of 37.27% from ₹661.46 crore in the same quarter last year.The net profit for the quarter includes one-time gain of ₹106.4 crore.
Nestle India’s revenue in Q3CY23 increased 9.5% to ₹5,036.8 crore from ₹4,601.8 crore in the year-ago period.“Domestic sales grew double digit, on account of mix, volume and price. We crossed INR 5,000 crore turnover, which has been our first in any quarter in the history of the Company and a landmark for us,” said Suresh Narayanan, Chairman and Managing Director, Nestlé India.
At the operating level, earnings before interest, tax, depreciation and amortization (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.Nestle Q3 results: Approves stock split in 1:10 ratio, declared dividend Nestle Q3 results: The board of directors of Nestle India declared a 1,400% second interim dividend payout. On the total issued, subscribed, and paid-up share capital of the firm, which consists of 9,64,15,716 equity shares with a nominal value of ₹10, the Maggi manufacturer announced an interim dividend of ₹140 per equity share for the year 2023.The second interim dividend will be paid on November 16.