Nestle India posts higher quarterly profit on strong urban demand

Benefitting from a steady urban demand, Nestle India reported a rise in quarterly profit of nearly 16%. Nestle India outperformed its large-cap rivals due to its smaller rural presence and less competition in its major coffee, noodles, and baby food sectors, according to Axis Securities analyst Preeyam Tolia. Shares of Nestle India rose 2% after the results.