Published on 16/02/2017 1:02:56 PM | Source: Dion Global Solutions Ltd.

Nestle India falls over 3% on weak Q4

Posted in | #Food Production #Stock On The Move #Nestle India Ltd #Quarterly Result

Shares of Nestle India tanked over 3 per cent on the Bombay Stock Exchange after the company reported an 8.66 per cent year-on-year decline in its net profit at Rs 167.3 crore for the fourth quarter ended December 31, from Rs 183.19 crore in the prior year period.

Weighed down by Q4 earnings, shares of company declined as much as 3.50 per cent to hit an intra-day low of Rs 5957.20 apiece on the Bombay Stock Exchange. In a similar fashion, stocks of company dipped 0.88 per cent to Rs 6,115.00 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,280.99, up 125.43 points, or 0.44 per cent.