Nestle India Q2 profit drops 1% to ₹899 cr
Profit was hit by elevated commodity prices, especially for coffee and cocoa.
Profit was hit by elevated commodity prices, especially for coffee and cocoa.
Manish has nearly three decades of experience in leading large-scale operations and strategic initiatives within the e-commerce and consumer goods sectors, says Nestle
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
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