Stocks Nestle India Plunges 3 Percent On Q4 Earnings

New Delhi: FMCG giant -- Nestle India -- plunged nearly 3 percent on Bombay Stock Exchange (BSE) after the company reported a 19.99 percent Year-On-Year (YoY) fall in net profit for the October-December quarter.

The stock of Nestle India slipped 2.78 percent to Rs 17, 582 against the previous close of 18.084 on BSE.

Despite, Nestle India stock gained 10.13 percent in one year but fallen 8.5 percent since the beginning of this year. The Market Cap of the firm stood at Rs 1.73 lakh croe on BSE. Total 725 shares changed hands amounting to a turnover of Rs 4.27 crore.

The company reported a net profit of Rs 386.66 crore for the October-December quarter, down 19.99 percent year-on-year (YoY) from Rs 483.31 crore recorded during the same period last year.

Revenue from operations stood at Rs 3,739.32 crore, up 8.93 per cent YoY compared to Rs 3,432.58 crore reported in the corresponding period last fiscal.

Meanwhile, the Nestle's board of Director recommended a final dividend of Rs 65 per equity share for the year 2021.

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