Nestle India share price slipped 9% after the company reported its Q2 results. The stock declined as much as 8.99% to Rs 1,259.70 apiece on the BSE.
However, the shares of Maggi noodles maker recovered from the lows but was still trading lower.
Source: NDTV Profit
FMCG major Nestle India reported a standalone net profit of Rs 1,027 crore during the second quarter of FY27, registering a growth of 36.4% from Rs 753 crore in the year-ago period.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The company's revenue from operations in Q2FY27 grew 20.3% to Rs 6,788 crore from Rs 5,644 crore, year-on-year (YoY), driven by double-digit volume growth.
At the operational level, EBITDA in the September quarter increased 31% to Rs 1,615 crore from Rs 1,232 crore, while EBITDA margin improved to 23.8% from 21.8%, YoY.
Technical Outlook
According to Ruchit Jain, Head - Equity Technical Research, Wealth Management, Motilal Oswal Financial Services, Nestle India share price has been facing resistance around the 50 DEMA of Rs 1,385.
“The near-term trend seems weak till this hurdle is not surpassed,” Jain said.
At 12:50 PM, Nestle India share price was trading 4.42% lower at Rs 1,323.00 apiece on the BSE.
ALSO READ: Catch Stock Market Live Updates Here
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
