Nestle shares fall after earnings disappoint

Written by Reuters | Mumbai | Updated: May 14 2014, 16:57pm hrs
Shares in Nestle India Ltd fall as much as 2.9 percent after the company reported lower-than-expected earnings in the January-March quarter.

"Nestle's results were below estimates and reflected continued challenges in discretionary consumption," brokerage Motilal Oswal said in a note dated on Tuesday.

FMCG major Nestle India posted a marginal increase increase in net profit at Rs 281.66 crore for the fourth quarter ended December 31, 2013.

The company had posted a net profit of Rs 278.92 crore during the October-December quarter of 2012-2013.