Nestle India slips 3% post June quarter nos; here's what brokerages say

The company reported an 11.14 per cent increase in net profit at Rs 486.60 crore for the quarter ended June 2020, helped by an increase in sales.

Shares of Nestle India slipped nearly 3 per cent on the BSE on Wednesday after the fast-moving consumer goods (FMCG) major announced its June quarter numbers for the fiscal year 2020-21.

At 10:28 am, the stock was trading 2.5 per cent lower at Rs 16,670.50 on the BSE. It hit a low of Rs 16,618.70 during the trade against Tuesday's close of Rs 17,098.95. In comparison, the S&P BSE Fast Moving Consumer Goods index was trading flat at 11,442 levels while the S&P BSE Sensex was quoting 197 points or 0.51 per cent lower at 38,295.53 levels. 

For the quarter