Nestle India shares dip 4% after reporting marginal fall in Q2 PAT
Nestle India tumbled 4% to the day’s low of 2,364.80 on BSE in Thursday’s trade after the company reported a marginal decline in its Q2 net profit to Rs 899 crore, slightly down from Rs 908 crore reported in the same period last year.
This indicates a 1% year-on-year (YoY) decline in the PAT.
However, the net profit after tax was above the Street estimate of Rs 852 crore.
The revenue from operations in the reported quarter stood at Rs 5,104 crore, reflecting a 1.3% increase compared to Rs 5,037 crore in the corresponding quarter of the previous financial year.
On a standalone basis, the PAT in the reported quarter stood at Rs 986 crore jumping by 8.5% over the Rs 908 crore reported in the year-ago period.
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