Nestle India shares vault nearly 6% as Q1 profit jumps
Nestle India shares vaulted 6.93% to Rs9,609.55 during intra-day trade, and finally settling 5.70% up at Rs9,498.90 on the BSE
New Delhi: Nestle India shares on Friday jumped nearly 6% after the FMCG major reported 35.98% rise in profit for the first quarter of 2018.
The stock moved up 5.70% to end at Rs9,498.90 on BSE. Intra-day, it jumped 6.93% to Rs9,609.55—its 52-week high.
On NSE, it climbed 5.57% to close at Rs9,482.05. The company’s market valuation rose by Rs4,941.32 crore to Rs91,584.32 crore.
Nestle India on Thursday reported 35.98% jump in profit at Rs424.03 crore for the first quarter ended 31 March, 2018.
The company, which follows January-December as it financial year, had posted a profit of Rs311.83 crore in the same period a year ago.
Revenue from operations was at Rs2,757.24 crore during the quarter under review. It stood at Rs2,601.46 crore in the corresponding period last year, it added.
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