Nestle India Q2 Results Live : Nestle India declared its Q2 results on 17 October 2024, revealing a topline growth of 1.33% year-over-year (YoY) despite a slight decline in profit, which fell by 0.95%. Compared to the previous quarter, the revenue saw a significant increase of 6.03%, while profit surged by 20.48%.
The company reported a decrease in selling, general, and administrative expenses, which dropped by 0.23% quarter-over-quarter (q-o-q) and 2.42% YoY. This reduction in expenses contributed positively to the overall operating income, which was up by 22.75% q-o-q and showed a modest increase of 0.77% YoY.
Earnings per share (EPS) for Q2 stood at ₹7.9, reflecting an 8.32% decrease YoY. Despite the recent financial challenges, Nestle India has managed to maintain a strong market presence, with a current market cap of ₹229344.1 crore and a 52-week high/low of ₹2778 and ₹2310.05, respectively.
In terms of stock performance, Nestle India has experienced a -5.32% return in the last week, -3.41% over the past six months, and a -10.51% return year-to-date. These figures raise concerns among investors regarding the company’s growth trajectory.
As of 18 October 2024, out of 33 analysts covering the company, 1 has issued a Strong Sell rating, 4 have given Sell ratings, 15 analysts recommend holding the stock, while 12 suggest buying, and 1 analyst rates it as Strong Buy. The consensus recommendation currently stands at Hold.
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