Nestle India Ltd posts Q3CY20 net profit of Rs. 587.09 crore

NESTLE INDIA LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q3 CY2020) - QoQ Comparison

The company has reported total income of Rs.3576.17 crores during the period ended September 30, 2020 as compared to Rs.3088.41 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.587.09 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.486.60 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.60.89 for the period ended September 30, 2020 as compared to Rs.50.47 for the period ended June 30, 2020.

Financials	Q3 CY2020	Q2 CY2020	% Change
Total Income	₹ 3576.17 crs	₹ 3088.41 crs	15.79%
Net Profit	₹ 587.09 crs	₹ 486.60 crs	20.65%
EPS	₹ 60.89	₹ 50.47	20.65%

Financial Results (Q3 CY2020) - YoY Comparison

The company has reported total income of Rs.3576.17 crores during the period ended September 30, 2020 as compared to Rs.3272.21 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.587.09 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.595.27 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.60.89 for the period ended September 30, 2020 as compared to Rs.61.74 for the period ended September 30, 2019.

Financials	Q3 CY2020	Q3 CY2019	% Change
Total Income	₹ 3576.17 crs	₹ 3272.21 crs	9.29%
Net Profit	₹ 587.09 crs	₹ 595.27 crs	-1.37%
EPS	₹ 60.89	₹ 61.74	-1.38%

Financial Results (9 months ended CY 2020) - YoY Comparison

The company has reported total income of Rs.10032.70 crores during the 9 months period ended September 30, 2020 as compared to Rs.9421.79 crores during the 9 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.1599.12 crores for the 9 months period ended September 30, 2020 as against net profit / (loss) of Rs.1495.80 crores for the 9 months period ended September 30, 2019.

The company has reported EPS of Rs.165.86 for the 9 months period ended September 30, 2020 as compared to Rs.155.14 for the 9 months period ended September 30, 2019.

Financials	9 Months Ended CY2020	9 Months Ended CY2019	% Change
Total Income	₹ 10032.70 crs	₹ 9421.79 crs	6.48%
Net Profit	₹ 1599.12 crs	₹ 1495.80 crs	6.91%
EPS	₹ 165.86	₹155.14	6.91%

Mr. Suresh Narayanan, Chairman and Managing Director, Nestlé India said, “I am extremely proud of my team, our distribution partners, hundreds of suppliers including MSMEs, many thousand farmers, agencies, service providers large and small, as well other stakeholders in our business, for their determination, anticipation, tenacity, imagination and sheer hard work that has helped us achieve a strong performance this quarter. This has been achieved in the face of daunting challenges in operations thrown at us by this pandemic.

We are proud of our 108-year long association with the nation and nearly six-decade long manufacturing journey. As a vindication of the confidence and trust in the Nestlé journey in India, I am pleased to share that we plan to invest INR 2600 Crore (INR 26 Billion) over the next three to four years to augment our existing manufacturing capacities, as well as towards our new under construction 'state of the art' factory in Sanand, Gujarat.

The quarter witnessed growth driven by an improved supply situation, as our factories returned to normal output. Boosted by an increase in in-home consumption, our key brandslike MAGGI Noodles, MAGGI Sauces, KITKAT, Nestlé MUNCH, NESCAFÉ CLASSIC & NESCAFÉ SUNRISE witnessed double digit growth. Demand in 'Out of Home' channels improved during the quarter but continues to be impacted due to the overall environment. We continued our strong performance in the e-commerce channels, which grew by 97% and now contributes about 4% of domestic sales.”

Shares of NESTLE INDIA LTD. was last trading in BSE at Rs.15863 as compared to the previous close of Rs. 15911.25. The total number of shares traded during the day was 3205 in over 1461 trades.

The stock hit an intraday high of Rs. 16066.15 and intraday low of 15815.35. The net turnover during the day was Rs. 50953727.

Source : Equity Bulls

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