Nestle India, the leading nutrition, health and wellness company, witnessed a fall in share price on Thursday after it swung to a loss for the quarter ended June 2015. During the quarter, the company reported a loss of Rs 644 million compared with a profit of Rs 2,878.60 million in the same quarter last year.
Revenues for the quarter declined 19.53% to Rs 19,570.10 million, compared with Rs 24,319.70 million for the prior year period. A ban on the company's Maggi product has impacted sales and profitability of the company.
Shares of Nestle India are trading at Rs 6,068.70, down Rs 78.6, or 1.28% at the Bombay Stock Exchange (BSE) on Thursday at 9:30 a.m.
The scrip has touched an intra-day high of Rs 6,098.80 and low of Rs 5,991.
Total volume of shares traded on the bourses today was higher by 355.78% to 87,998 compared with 22-day average volume of 19,307.