Nestle shares climb over 2% after earnings announcement

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Shares of Nestle India on Wednesday climbed over 2 per cent after the FMCG major reported an 8.25 per cent rise in its net profit for the third quarter ended September 2022.

The stocks went higher by 2.14 per cent to settle at 19,800 apiece on the BSE. During the day, it climbed 2.39 per cent to 19,849.95.

On the NSE, it ended 2.12 per cent higher at 19,800 apiece.

It was the biggest gainer among the Sensex and Nifty components.

The company’s market valuation climbed 4,002.12 crore to 1,90,903.12 crore.

On Wednesday, Nestle India reported an 8.25 per cent rise in net profit at 668.34 crore for the third quarter ended September 2022, helped by a volume growth across categories.

The company, which follows January-December financial year, had posted a net profit of 617.37 crore in the same period a year ago, it said in a BSE filing.

Net sales were up 18.24 per cent to 4,591 crore during the period under review as against 3,882.57 crore in the year-ago period, the company said.

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