Nestle India sizzles after good Q1 result

Nestle India rose 1.81% to Rs 10,399.55 at 11:08 IST on BSE after net profit rose 9.26% to Rs 463.28 crore on 9.33% rise in total income to Rs 3076.14 crore in Q1 March 2019 over Q1 March 2018.

The result was announced after market hours yesterday, 14 May 2019.

Meanwhile, the S&P BSE Sensex was up 212.16 points, or 0.57% to 37,530.69

On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 6,249 shares in the past two weeks. The stock had hit a high of Rs 10,501.95 and a low of Rs 10,250 so far during the day.

Commenting on the results, Suresh Narayanan, Chairman and Managing Director, Nestle India said the company has continued on the track of volume led growth with brands like MAGGI, KITKAT and Nestle MUNCH delivering strong performances. The market momentum remained strong, while the input costs have witnessed hardening.

Nestle India is a subsidiary of NestlS.A. of Switzerland. Nestlis the world's largest food and beverage company. It has more than 2000 brands ranging from global icons to local favourites, and it is present in 191 countries around the world.

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