Feb 16, 2017 12:46 PM IST | Source: Moneycontrol.com

Nestle India slips 3% as Q4 profit misses expectations

The company's Q4 (Oct- Dec) net profit was down 8.7 percent at Rs 167.3 crore against Rs 183.2 crore, in the same quarter last fiscal.

Nestle India slips 3% as Q4 profit misses expectations
Moneycontrol Bureau

Share price of Nestle India slipped 3.5 percent intraday Thursday after announcement of fourth quarter numbers.

The company's Q4 (Oct- Dec) net profit was down 8.7 percent at Rs 167.3 crore against Rs 183.2 crore, in the same quarter last fiscal.

However, total income of the company was up 16.7 percent at Rs 2,286.2 crore versus Rs 1,959.5 crore.

According to average of estimates of analysts polled by CNBC-TV18, net profit was seen at Rs 227.5 crore and revenue may increase to Rs 2,263 crore in the quarter ended December 2016.

The company's operating profit (EBITDA) rose 15.1 percent at Rs 446.3 crore and EBITDA margin was at 19.5 percent.

The company at its meeting held on February 15, has recommended final dividend for the year 2016 of Rs 23 per equity shares of Rs 10 each and its 58th Annual General Meeting will be held on May 11, 2017.

At 09:50 hrs Nestle India was quoting at Rs 6,050, down Rs 123.60, or 2.00 percent on the BSE.

Posted by Rakesh Patil
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