Nestle India share price fell over 1 per cent in the early trade on Friday after the company reported a 60.1 per cent decline in its standalone net profit figures at Rs 124.20 crore for the third quarter ended September 2015. Nestle India posted net profit of Rs 311.29 crore in the same period last fiscal.
At 9.32 am, Nestle India shares were trading 1.19 per cent down at Rs 6,207.35 apiece. The scrip opened at Rs 6,220 and had touched a high and low of Rs 6,231 and Rs 6156.50, respectively, in trade so far. Sensex was down 0.02 per cent at 26,834.10.
Later, the share price of Nestle India settled 1.47 per cent down at Rs 6,190.
During the period under review, net sales declined 32.12 per cent to Rs 1,736.20 crore as against Rs 2,557.80 crore a year ago.
“Export sales decreased 6.4 per cent, which are impacted by the Maggi noodles issue and lower sales to Nepal due to the blockade of the border in the last week of September 2015,” the company said.
The company follows January-December financial year.
The promoters holding in the company stood at 62.76 per cent while institutions and non-Institutions held 17.05 per cent and 20.19 per cent respectively.
In the past one year, the share price of Nestle India gained around 2.89 per cent to Rs 6282.10 on October 29 while the benchmark index Sensex slid 0.96 per cent during the same period.