Nestlé India shares increased more than 3% after June quarter earnings

New Delhi, August 5 () Nestlé India shares rose more than 3 percent on Monday after the company reported a 10.83 percent increase in net earnings for the second quarter ending June 30 .

The company's script gained 3.25 percent to close at Rs 11,799 in the BSE. During the day, it increased 4.23 percent to Rs 11,912.

In the NSE, shares rose 3.23 percent to close at Rs 11,781.

Nestlé India, the largest consumer goods, reported a 10.83 percent increase in net earnings to Rs 437.84 rupees on Friday for the second quarter ending June 30, led by sales and volume growth.

The company, which announced investing around Rs 700 crore to establish a new factory in Sanand, Gujarat, had reported a profit of Rs 395.03 rupees in the corresponding period of 2017-18.

Nestlé would manufacture its range of popular Maggi instant noodles in the new factory and generate employment for some 400 people, in which half of the force would be women, he said in a statement. The company, which follows January-December as its financial year, recorded net sales of Rs 2,982.83 million, an increase of 11.35 percent compared to Rs 2,678.57 million in the same period last year. SUM SHW SHW

comments