Nestle India s net profit for the December quarter is seen rising 18% YoY to Rs 745 crore, according to the average of estimates given by eight brokerage firms. Revenue is seen rising 10.3% to Rs 4,697 crore and the operating profit by 15.3% to Rs 1,126 crore.
Brokerages are holding bullish view on FMCG majors ITC, Hindustan Unilever (HUL) and Nestle despite the companies reporting mixed set of results for the quarter ended September 2023.
Nestle India reported double-digit growth in domestic sales in the third quarter, reaching a turnover of over Rs 5,000 crore. The company attributed the growth to a combination of mix, volume, and price. Nestle confirmed its full-year outlook of organic sales growth between 7% and 8%.