Maggi Ban impact : Nestle suffers its first loss in 17 yrs of Rs 64 cr
- 7 years ago
Because of all the uproar about the instant Maggi noodles it has to suffer its first quarterly loss in 17 years of Rs 64.4-crores. The June quarter performance of Nestle India BSE is the first one which has quantified the impact of the Maggi fiasco on the company. There has been a 20 per cent drop in revenues and a net loss of Rs 64 crore. the company had earned a profit of Rs 288 crore rupees a year earlier.