Nestle India Q4 Results: Nestle said its board approved execution of a definitive agreement to form a joint venture with Dr Reddy s Laboratories. The partners intend to bring together a global range of nutritional health solutions as well as vitamins, minerals and health supplements of Nestle Health Science. The joint venture is expected to become operational in the second quarter of the financial year 2024-25, subject to customary closing conditions, the FMCG firm said.
The FMCG major announced a second interim dividend of Rs 140 for the financial year while announcing sub-division or split of shares of face value of Rs 10 each fully paid-up into 10 equity shares of face value of Re 1.
The addition of the iconic Ching s brand to Maggi-maker Nestle India s basket will be a further boost to its market leadership, believe analysts but some have valuation concerns.
KUALA LUMPUR, Feb 21 Nestle (Malaysia) Bhd’s net profit for the financial year ended Deceber 31, 2022 (FY 2022) rose to RM620.33 million from RM569.81 million in FY21 as.
Nestle India reported net profit of Rs 602 crore.
Shares of the popular Maggi noodle maker - Nestle India - fell as much as 1.73 per cent to hit an intraday low of Rs 16,799 on the National Stock Exchange after it reported March quarter earnings post market hours on Tuesday. On the BSE, Nestle India shares declined as much as 1.67 per cent to hit an intraday low of Rs 16,800.
Nestle India reported net profit of Rs 602 crore on Tuesday, April 20, registering a growth of 14.6 per cent in the January-March quarter from Rs 525 crore during the same period last year. Nestle India reported double-digit domestic sales growth in the quarter ending March 2021 at 10.2 per cent, while overall sales grew by 8.9 per cent to Rs 3,600 crore.