Nestle India keeps royalty fee to Swiss parent at 4.5%
A majority of shareholders of Nestle India had voted against a proposal for a hike in royalty payments to the Swiss parent in May.
A majority of shareholders of Nestle India had voted against a proposal for a hike in royalty payments to the Swiss parent in May.
The FMCG major's revenue grew 9% year-on-year at ₹5,268 crore during the quarter under review, as against ₹4,830 crore in the corresponding period of the previous year.
Nestlé India says it has already reduced added sugars by up to 30% over the past 5 years depending on the variant.
The board of Nestle has set January 5, 2024, as the record date for the stock split for the first time in the ratio of 1:10.
The share price of Nestle India surged as much as 4.45% to hit an intraday high of ₹23,333.65.
The net profit of Colgate Palmolive Ltd stood at ₹273.68 crore, witnessing a growth of 30.52% as against ₹209.67 crore in the corresponding period of the previous year.
Nestle India declares interim dividend of ₹27 per equity share. It will be paid on and from 8th May 2023, along with the final dividend for 2022 of ₹75.0 per equity share
How legacy FMCG companies staged a comeback in their battle with new-age brands by investing in data-led strategies, acquisitions and premium product portfolio.
The BSE Sensex closed 524 points higher and the NSE Nifty rose 162 points in the one-hour special Muhurat trading session on Monday.
Nestle has launched its first-ever d2c platform -- MyNestle, which will offer curated product bundles, personalised gifting, subscriptions, and discounts. It’ll be launched in Delhi-NCR initially.