Nestle India shares jump nearly 6 pc as Q1 profit jumps
Shares of Nestle India on Friday rose nearly 6 per cent after the FMCG major reported 35.98 per cent jump in profit.
New Delhi: Shares of Nestle India on Friday rose nearly 6 per cent after the FMCG major reported 35.98 per cent jump in profit for the first quarter of 2018.
The stock moved up 5.70 per cent to end at Rs 9,498.90 on BSE. Intra-day, it jumped 6.93 per cent to Rs 9,609.55 -- its 52-week high. On NSE, it climbed 5.57 per cent to close at Rs 9,482.05.
The company's market valuation rose by Rs 4,941.32 crore to Rs 91,584.32 crore. Nestle India yesterday reported 35.98 per cent jump in profit at Rs 424.03 crore for the first quarter ended March 31, 2018.
The company, which follows January-December as it financial year, had posted a profit of Rs 311.83 crore in the same period a year ago. Revenue from operations was at Rs 2,757.24 crore during the quarter under review. It stood at Rs 2,601.46 crore in the corresponding period last year, it added.