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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.
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.
Total expenses increased 8.26 per cent to ₹2,793.01 crore from ₹2,579.89 crore.
