Nestle India rose 1.53% to Rs 7,120 at 10:45 IST on BSE after net profit rose 23.58% to Rs 320.28 crore on 8.05% rise in total income to Rs 2541.95 crore in Q1 March 2015 over Q1 March 2014.
The Q1 result was announced after market hours on Friday, 15 May 2015.
Meanwhile, the S&P BSE Sensex was up 158.14 points or 0.58% at 27,482.14.
On BSE, so far 1,502 shares were traded in the counter as against average daily volume of 3,206 shares in the past one quarter.
The stock hit a high of Rs 7,327 and a low of Rs 7,111 so far during the day. The stock had hit a record high of Rs 7499.95 on 10 March 2015. The stock had hit a 52-week low of Rs 4536 on 20 May 2014.
The stock had outperformed the market over the past one month till 15 May 2015, sliding 0.44% compared with Sensex's 5.12% fall. The scrip had also outperformed the market in past one quarter, declining 0.32% as against Sensex's 6.09% fall.
The large-cap FMCG company has equity capital of Rs 96.42 crore. Face value per share is Rs 10.
Nestle India said that net sales rose 8.4% to Rs 2506.80 crore in Q1 March 2015 over Q1 March 2014. Net domestic sales rose 7.6% mainly on account of higher realisations. Export sales grew 19.2% contributed largely by export of milk & nutrition products to Bangladesh and Middle East.
The impact of declining prices of fresh milk and derivatives compared to the increasing trend in previous year, was mostly negated by the opening stock of finished goods that was manufactured when fresh milk prices were relatively higher. However, cost of materials consumed as percentage of net sales has decreased largely due to selling price increases including carry over pricing.
Nestle India said that the board of directors of the company has declared interim dividend of Rs 14 for the year ended 31 December 2015 (FY 2015).
Powered by Capital Market - Live News
