Nestle perks up on hot Dec qtr numbers

DALAL STREET SPIKES

Impressive December quarter results and a block deal of 2 lakh shares boosted Nestle India on the Bombay Stock Exchange.

In a subdued market, the stock gained 2.67 per cent to close at Rs 598.95 before touching the day's high of Rs 605.

According to market sources, the block deal was struck with UTI selling the shares in the open market, while the management is believed to have picked these shares. The counter witnessed volumes of 2.3 lakh shares on the BSE.

The company for the quarter ended December 31, 2003 announced a 20.6 per cent jump in its net profit at Rs 45.42 on a 16.5 per cent increase in total income to Rs 571.77 crore (Rs 490.78 crore).

For the full year ended 31 December 2003, the company recorded a 30.5 per cent rise in net profit to Rs 263.08 crore (Rs 201.52 crore) on a 11.2 per cent growth in total income to Rs 2,307.66 (Rs 2,075.6 crore).