Nestle gains 0.5% as FMCG giant posts 5% rise in Q2 net profit
Nestle said that its performance in the previous quarter had been primarily driven by the fact that it had been able to deliver double-digit and broad-based value growth in domestic sales across categories.
By Bhaskar Dutta, ETMarkets.com |
Reuters
NEW DELHI: Shares of Nestle India added 0.5 per cent on Wednesday as the fast moving consumer goods heavyweight posted a 5.15 per cent on-year rise in net profit to Rs 617.37 crore for the July-September quarter.
At 09:20 hours (IST) shares of Nestle were at Rs 19,470.75 on the National Stock Exchange, registering a gain of 0.53 per cent from previous close.
On Tuesday, the company said that its performance in the previous quarter had been primarily driven by the fact that it had been able to deliver double-digit and broad-based value growth in domestic sales across categories.
The FMCG giant’s revenues rose by 12 per cent on a sequential basis in July-September to Rs 3,882.6 crore. On a yearly basis, revenues registered a 10 per cent growth in July-September from Rs 3,541 crore.
At 09:20 hours (IST) shares of Nestle were at Rs 19,470.75 on the National Stock Exchange, registering a gain of 0.53 per cent from previous close.
On Tuesday, the company said that its performance in the previous quarter had been primarily driven by the fact that it had been able to deliver double-digit and broad-based value growth in domestic sales across categories.
The FMCG giant’s revenues rose by 12 per cent on a sequential basis in July-September to Rs 3,882.6 crore. On a yearly basis, revenues registered a 10 per cent growth in July-September from Rs 3,541 crore.
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