Nestle India declines after reporting reverse turnaround in Q2 results

Nestle India declined 1.77% to Rs 6,038.45 at 9:25 IST on BSE after the company reported net loss of Rs 64.40 crore in Q2 June 2015 as against net profit of Rs 287.86 crore in Q2 June 2014.

The result was announced after market hours yesterday, 29 July 2015.

Meanwhile, the S&P BSE Sensex was up 146.03 points or 0.53% at 27,709.46.

Shares of FMCG company hit a high of Rs 6,075 and a low of Rs 5,991 so far during the day. The stock had hit record high of Rs 7,499.95 on 10 March 2015. The stock had hit 52-week low of Rs 5,005.10 on 1 August 2014.

On BSE, so far 1,068 shares were traded in the counter as against average daily volume of 15,470 shares in the past one quarter.

Nestle India's total income declined 19.06% to Rs 1987.14 crore in Q2 June 2015 over Q2 June 2014. The company's Q2 results were hit adversely by the Maggi noodles issues. The company reversed net sales worth Rs 288.38 crore in Q2 June 2015 in relation to Maggi noodles stock withdrawn from trade partners and market. The company incurred exceptional expenditure of Rs 451.66 crore in Q2 June 2015 on account of stock of Maggi noodles withdrawn from the market and other related costs.

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