Nestle’s been badly hit with the Maggi controversy and continues to be in bad shape. Profits are down 60% while revenues fell 32% (year on year) in the quarter.
(Figures are Rs. Million)
They have apparently resumed production of Maggi and are awaiting results of tests in order to start sales.
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Nestle has been under pressure ever since the Maggi crisis came about. The stock, though, hasn’t fallen quite as much as the 60% fall in profit:
Disclosure: No positions, no connections with Nestle.
