Nestle India’s shares gained over 4 per cent today after the firm reported a 5 per cent rise in its Q3 net profit. The large cap stock touched an intraday high of Rs 20,200, climbing 4.18% against previous close of Rs 19,377 on BSE.
Nestle India’s shares is trading higher than 100 day and 200 day moving averages but lower than 5 day, 20 day and 50 day moving averages.
The stock has gained 18 per cent in one year and risen 4.35 per cent since the beginning of this year.
Total 0.42 lakh shares of the firm changed hands amounting to turnover of Rs 81.67 crore on the BSE.
The stock hit 52-week high of Rs 20,599 on September 14, 2021 and 52 week low of Rs 15,773 on October 22, 2020.
Market cap of the firm stood at Rs 1.85 lakh crore on BSE.
The FMCG major reported a 5.15 per cent rise in net profit to Rs 617.37 crore for the third quarter ended September on the back of high single-digit volume growth in the domestic market.
It reported a profit of Rs 587.09 crore in the corresponding period of last fiscal.
The company follows the January-December financial year. ┬а
Net sales climbed 9.63 per cent to Rs 3,864.97 crore compared to profit of Rs 3,525.41 crore in Q3 of last fiscal.
Nestle India Chairman and Managing Director Suresh Narayanan said, “This quarter has once again seen the company deliver ‘double-digit broad-based value growth’ in domestic sales across categories.”
Domestic sales rose 10.07 per cent to Rs 3,687.37 crore compared to Rs 3,350.10 crore in July-September 2020.
“The growth is broad-based and largely driven by volume & mix,” said Nestle India.
The company’s board of directors has declared a second interim dividend for 2021 of Rs 110 per equity share (face value Rs 10 per equity share) amounting to Rs 1,060 crore. It will be paid from November 16, 2021.
Nestle said it is in addition to the first interim dividend of Rs 25 per equity share paid on May 19, 2021.
