Nestle India

Nestle India declares interim dividend of Rs 27/share, fixes record date

The FMCG giant has fixed 21 April as the record date for determining the eligibility of shareholders for interim dividend payment

Mariwala will represent India at the EY World Entrepreneur of the Year Award to be held in June

CLOSING BELL: Mukesh Ambani-led Reliance Industries (RIL) is set to become India's first company to hit market capitalisation (m-cap) of Rs 19 trillion

FMCG major Nestle India Ltd on Thursday reported a 1.25 per cent decline in its net profit to Rs 594.71 crore for the first quarter ended March 2022.

Nestle Q1 result: The management remains cautious of continued inflation as it shadows short-to-medium term growth outlook.

Nestle increased the use of bigger size vehicles from 5.9 per cent in 2019 to 9.8 per cent in 2021 and started using railways, which was not used in 2019. It also introduced four waterways in 2021.

Food and commodity inflation is here to stay for a while and remains a cause of concern, said Nestle India Chairman and Managing Director Suresh Narayanan on Thursday.

Smaller contribution of 20-25% from rural sales helped; net profit down 20% due to exceptional item

Here are the top headlines on Thursday

Commenting on the annual performance, Nestl India Chairman and Managing Director Suresh Narayanan said, '2021 was a very challenging year'

HDFC (up 1.7 per cent), Reliance Industries (1.2 per cent), and Power Grid (0.56 per cent) were the top large-cap gainers today

In the last 20 days, AICPDF had written two letters to FMCG companies to resolve the issue of price disparity.

FMCG major Nestle India on Tuesday said it has received approval from the government for the production-linked incentive (PLI) scheme for processed fruits and vegetables.

Stock market LIVE: All sectoral indices barring telecom ended in the the negative zone; Declining stocks out-numbered advancing shares in the ratio 2:1 on the BSE

Organised trade witnessed a resurgence in the third quarter with strong revenue growth in mid-twenties after a muted second quarter which was impacted by the second wave of COVID-19.

The market breadth also favoured sellers amid profit-booking in the broader markets. The BSE MidCap and SmallCap indices ended nearly 2 per cent down each

Says 2022 going to be difficult year on higher commodity prices

Nestle India chief Suresh Narayanan said that 2022 will likely be a "difficult year" as commodity prices are expected to rise and result in the spectre of food inflation for the manufacturers.

On July 29, 2021 the board approved scheme of arrangement, which envisages the transfer of the entire balance of Rs 837.43 crore standing to the credit of the general reserve to the retained earnings