Nestle India on Thursday declared a final dividend of Rs 75 per share for the year 2022 after the company reported the highest double‐digit growth in a decade led by sustained volume. The net profit jumped over 65% to Rs 628 crore in the fourth quarter of the calendar year 2022, up from Rs 379 crore in the same quarter last year. The company’s revenue from operations in the October-December quarter jumped 13% to Rs 4,256.7 crore from Rs 3,747 crore in the same period the previous year. The sale of products grew by 14% from Rs 3714.8 crore in Q3CY22 to Rs 42,33.2 crore in Q4CY22. Total expenses rose nearly 13% from Rs 3038.8 crore in the July-September quarter to Rs 3427.2 crore in the quarter ended December 2022. Nestle India shares rose 1.41% to Rs 19,516.25 after the Q4 earnings announcement.
The record date fixed for the purpose of determining entitlement of the Members to the Final Dividend for the year 2022 is April 21, 2023 and the Final Dividend, if approved by the Members at 64th AGM, shall be paid on and from May 8, 2023, Nestle said. The dividend of Rs 75 per share with a face value of Rs 10 each, amounts to Rs 723 crore. The total dividend for 2022 aggregates to Rs 220.00 per equity share which includes first interim dividend of Rs 25.00 per equity share paid on and from 6 May 2022; and second interim dividend of Rs 120.00 per equity share paid on and from 16 November 2022.
“I am delighted to share that we delivered our highest double‐digit growth in a decade led by sustained volume and mix led growth, leading to a strong value growth. In 2022 total sales grew by 14.5% and domestic sales increased by 14.8%, with broad based performance across all categories. Our robust performance on e‐commerce continued, fuelled by Quick Commerce and Click & Mortar,” said Suresh Narayanan, Chairman and Managing Director, Nestle
