Nestle India falls 5% on profit booking post June quarter results

The stock slipped 5% to Rs 10,209 on the BSE in noon deal on profit booking after the company reported 50% jump in its net profit at Rs 3.95 billion in June quarter.

Shares of Nestle India have slipped 5% to Rs 10,209 per share on the BSE in intra-day deal on profit booking after the company reported 50% jump in its net profit at Rs 3.95 billion in June quarter (Q2CY18), on double digit volume growth. The fast moving consumer goods (FMCG) company had profit of Rs 2.63 billion in the same quarter year ago.

Total sales (Rs 26.79 billion) and domestic sales (Rs 25.07 billion) for the quarter were increased by 8.5% and 8.0% respectively. The growth rates are adversely impacted due to lower reported sales by the change in