Nestle India Shares Drop 2% After Q2 Earnings Report

Nestle India‘s stock dropped 2% on Friday in response to the company’s Q2 earnings. After closing at Rs 2,378.70, the large-cap FMGC shares opened higher at Rs 2,380. The stock experienced selling pressure after a strong opening, dropping 2.21 percent to a low of Rs 2,326.10. The stock had a 1.20 percent decline, closing at Rs 2,349, while 7.37 lakh shares were exchanged.

FMCG Giant Reports Rs 899 Crore Net Profit in Q3 2024, Slightly Lower YoY

Following the company’s announcement of a consolidated net profit of Rs 899 crore for the quarter ending September 30, 2024, which was marginally lower than the Rs 908 crore reported during the same period the previous year, the FMCG player saw a decline. This is a drop of over 1% from the previous year. Nevertheless, the net profit after taxes exceeded the Rs 852 crore forecast.

Compared to Rs 5,037 crore in the same quarter of the previous fiscal year, the reported quarter’s operating revenue of Rs 5,104 crore represented a 1.3% rise. Compared to Rs 908 crore during the same period the previous year, the PAT for the reported quarter was Rs 986 crore, representing an 8.5% rise.

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