Breaking News: The share price of Nestle India has hit a record high after the great result of Quarter 3. So as per the information given by the market experts, we are going to suggest that today you should buy shares of Nestle India or not. We are also going to tell you that you should currently buy it, sell it, or hold it. So read this article very carefully to learn everything about today’s Nestle India share price expectations. The FMGC major Nestle India has reported a 37.27% rise in the net profit for the quarter which ended in September 2023 at around Rs. 908 crore from Rs. 661.46 crore in the same quarter in 2022. Read till last to know everything.
Nestle India Q3 results 2023
According to the source, the Nestke India revenue in Q3CY23 has increased 9.5% to Rs. 5,036.8 crore from Rs, 4,601.8 crore in the last year. The share price of Nestle India has extended its gains so that it can hit a new and fresh record which is high on 20th October 2023, Friday. This has been extended after Nestle India reported a very great earning for the quarter which ended up in September 2023. The shares of Nestle India have rallied as much as 1.90% to Rs. 24,580.35 per piece on the Bombay Stock Exchange (BSE). Continue reading.
It has been reported by FMCJ major Nestle India that there has been a 37% rise in the net profit for the quarter that ended in September 2023 at Rs. 908 crore from Rs. 661.46 crore in the same quarter in 2022. As per the reports by EBITDA. From July to September 2023, the EBITDA quarter rose 21.3% to Rs. 1,225 crore from Rs. 1,009.6 crore. And the EBITDA margin has been decreased by 220 basis points to 24.3% from 22.1%, YoY. Nestle India Board of Directors has now officially declared the second interim dividend for 2023 of Rs. 140 per equity share. He has also approved the share split in the ratio of 1:10.
Nestle India has remained at a very strong position in the domestic food market as it has a great innovative product portfolio. It has also focused a great expansion out of the house consumption and it has reached a great amount in the rural market because of that there is significant growth has been reported. So it has a neutral price on the stock which has a target price of Rs. 23,900 per share. Also now the Nestle Q3CY23 EBITDA and PTA have grown up at 21.3% YoY and 37.3% YoY. The revenue has risen to 9.5% which is below the Street estimates. Today the Nestle India shares have been traded at 1.74% higher at Rs. 24,542.75 per piece on the Bombay Stock Exchange (BSE).