Nestle profit up 25% YoY to 737 cr in Q1 - Qoneqt
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    Vikshita Vitthal Gujaran in News

    25-Apr-2023 02:01 PM


    Nestle profit up 25% YoY to 737 cr in Q1

    Riding on the wave of robust growth of its confectionery and beverage products, Nestle managed to beat the market projections and report a 24.7 per cent YoY rise in its net profit to ₹737 crore in the quarter ending March.
    Its total sales growth stood at 21.3%, whereas, domestic sales growth was at 21.2%.
    The company reported a 21 per cent YoY hike in its revenue from operations to ₹4,830.5 crore in January-March quarter of CY23 against ₹3992.6 crore in the same quarter of the previous financial year.
    Nestle follows a January to December financial year.
    Also Read: Bajaj Auto share price in focus ahead of Q4FY23 results on Tuesday Milk and nutrition products were one of the key growth drivers of the company which registered a strong double-digit growth despite commodity pressures.
    We estimate gross margin contraction of 173 bps in Q4.

    Source - MInt