Nestle India shares decline 5% as December quarter results disappoint

Brokerage HDFC Securities in a results update said moderation in in-home consumption categories will impact key brands but revival in OOH will support growth

Shares of FMCG major Nestle India dipped 5 per cent to Rs 16,360 on the BSE in Wednesday's trade after the firm's December quarter numbers failed to meet Street's expectations. 

The company on Tuesday, after market hours, posted a 2.25 per cent year-on-year (YoY) rise in net profit to Rs 483.31 crore for the fourth quarter ended December. The company, which follows the January-December financial year, had posted a profit of Rs 472.64 crore in the same period a year ago.

Its revenue from operations increased 9 per cent YoY to Rs 3,432.58 crore from Rs 3,149.29 crore posted in