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The consolidated net profit saw a significant increase of 37.4% to Rs 908 crore a year-on-year (YoY) basis. The company’s YoY margins also improved in the September quarter to 24.3%, up from the previous financial year’s Q2 figure of 22.1%.
In addition to these financial results, the board announced a stock split at a ratio of 1:10. However, the Board has not confirmed the record date for the split of existing equity shares. Nestlé India’s decision to split its stock could be seen as a response to its high trading valuation, as indicated by its high P/E ratio relative to near-term earnings growth and high EBITDA valuation multiple, according to InvestingPro Tips.
Further enhancing shareholder value, the board declared a second interim dividend of 1400%, translating to Rs 140 per equity share of Rs 10 each. The record date for this dividend has been set for November 1, with an ex-date scheduled for November 16.
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