BUZZ-Nestle India hits two-week low on lower Dec-quarter profit

Last Updated: Thu, Feb 16, 2017 10:00 hrs

** Nestle India Ltd falls as much as 3.4 pct, lowest since Feb 2

** Dec-quarter profit of the Indian arm of Swiss food company Nestle SA fell about 9 pct to 1.67 bln rupees ($24.98 mln)

** While net domestic sales rose about 17 pct to 20.94 bln rupees, they were hurt by impact of demonetisation, company said on Wednesday http://bit.ly/2la39gU

** We expect only gradual recovery in revenue growth trends - Morgan Stanley analysts

** Improvement in Maggi market share is encouraging, however; its non-noodles portfolio continues to witness muted growth - Emkay Global Financial Services analysts stated in a note

($1 = 66.8500 Indian rupees)



More from Sify: