Nestle shares climb nearly 4%; market cap jumps Rs 8,218 crore after Q2 results

New Delhi: Shares of Nestle India Ltd on Thursday jumped nearly 4 per cent after the company reported an increase of 37.28 per cent in net profit for the third quarter ended September 30.

The stock ended at Rs 24,122 apiece, up 3.66 per cent on the BSE. During the day, it rallied 4.12 per cent to reach its 52-week high of Rs 24,228.75. It was the biggest gainer among the 30-share BSE Sensex firms. On the NSE, it jumped 3.51 per cent to settle at Rs 24,080 per piece.

The company's market valuation also climbed Rs 8,218 crore to Rs 2,32,573.99 crore. FMCG major Nestle India Ltd on Thursday reported an increase of 37.28 per cent in net profit at Rs 908.08 crore for the third quarter ended September 30, helped by a consistent performance almost across all major brands.

The company, which follows the January-December financial year, had posted a net profit of Rs 661.46 crore in the same period a year ago, Nestle India said in a regulatory filing.

Nestle India's net sales rose 9.43 per cent to Rs 5,009.52 crore during the period under review, as against Rs 4,577.44 crore in the corresponding period last fiscal, the company said. This is the first time when the sales of Nestle India, maker of Maggi noodles, Nescafe, Kitkat, crossed Rs 5,000 crore during a quarter. "We crossed Rs 5,000 crore turnover, which has been our first in any quarter in the history of the company and a landmark for us," Nestle India Chairman and Managing Director Suresh Narayanan said.