Nestle India shares decline 3 per cent post Dec quarter earnings

The stock declined 5 per cent to ₹16,360 during the day on the BSE. Later, it closed at ₹16,739.90, lower by 2.80 per cent.

Shares of Nestle India Ltd declined 3 per cent at close of trade on Wednesday after its December quarter earnings failed to cheer investors.

Nestle India's domestic sales were up 10.13 per cent to ₹3,260.70 crore, as against ₹2,960.78 crore in October-December 2019. (Reuters file photo)

The stock declined 5 per cent to ₹16,360 during the day on the BSE. Later, it closed at ₹16,739.90, lower by 2.80 per cent.

On the NSE, it tanked 3 per cent to close at ₹16,700.

FMCG major Nestle India Ltd on Tuesday reported a 2.25 per cent rise in net profit to ₹483.31 crore for the fourth quarter ended December.

The company, which follows the January-December financial year, had posted a profit of ₹472.64 crore in the same period a year ago, Nestle India said in a regulatory filing.

Net sales rose 9.16 per cent to ₹3,417.52 crore during the quarter under review, as against ₹3,130.74 crore in the corresponding period last fiscal, the company said.

Nestle India's domestic sales were up 10.13 per cent to ₹3,260.70 crore, as against ₹2,960.78 crore in October-December 2019.

Export sales dipped 7.73 per cent to ₹156.82 crore, compared to ₹169.96 crore earlier.