May 15, 2024
Nestle shares climb nearly 2 pc after earnings announcement
Shares of Nestle India Ltd on Thursday climbed nearly 2 per cent after the FMCG major reported a 65.50 per cent increase in net profit in the fourth quarter ended December 31, 2022.
The stock gained 1.64 per cent to settle at Rs 19,562.05 apiece on the BSE. During the day, it climbed 2.87 per cent to Rs 19,799.95.
Nestle India Ltd on Thursday reported a 65.50 per cent increase in net profit at Rs 628.06 crore for the fourth quarter ended December 31, 2022.
The company, which follows the January-December financial year, had posted a net profit of Rs 379.48 crore in the same period a year ago, it said in a regulatory filing.
Nestle India’s net sales rose 13.95 per cent to Rs 4,233.27 crore during the period under review, as against Rs 3,714.86 crore in the corresponding period last fiscal, the company said.
Its total expenses in the October-December quarter were at Rs 3,427.27 crore, up 12.78 per cent, as against Rs 3,038.84 crore in the corresponding period.
The total income of Nestle India was Rs 4,286.34 crore in the October-December quarter.
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