Nestle share price drops 5% post Q3 earnings; top loser on BSE
Nestle share price has fallen 2.44% in one week and 6.28% in a month. Year-to-date, the stock is down 8.9%
BusinessToday.In | February 17, 2021 | Updated 12:39 IST
The market capitalisation of the FMCG major stood at Rs 1,61,532.48 crore
Shares of Nestle India traded as the top loser in the Sensex pack, falling over 5% after the FMCG major reported 2.25% YoY rise in its net profit for the quarter ended December to Rs 483.3 crore, as against Rs 472.64 crore in the corresponding quarter of the previous fiscal.
Following the result update, shares of the most consistent Sensex performers from FMCG category opened at day s high of Rs 16,900 and fell 5.01% to hit an intraday low of Rs 16,360 on BSE.
Nestle India Shares Fall After December Quarter Earnings Nestle India s revenue from sale of products rose 9 per cent to Rs 3,417.52 crore compared with Rs 3,130.74 crore in the year-ago period.
Updated: February 17, 2021 10:53 am IST
Nestle India shares fell as much as 5 per cent to hit an intraday low of Rs 16,360.
Shares of FMCG major Nestle India fell as much as 5 per cent to hit an intraday low of Rs 16,360 a day after it reported December quarter earnings. Nestle India s profit in quarter ended December 2020 rose 2 per cent to Rs 483.3 crore from Rs 472.6 crore during the same quarter last year. The profit numbers declared by Nestle India were below expectations as analysts at brokerage firm Motilal Oswal expected the company to report net profit of Rs 550 crore.