Nestle India On Maggi

Nestle India reported a net profit of Rs 539 crore in the first quarter of the current fiscal, compared to Rs 486 crore in the corresponding quarter last year, marking a growth of 11 per cent year-on-year.

Nestle India Limited, makers of Maggi instant noodles, on Wednesday said it does not use ash in making the snack as it responds to allegations that some samples of the product were found "contaminated" by food safety officials in Uttar Pradesh's Shahjahanpur district

The court also slapped a Rs 26 lakh fine on the distributors of Nestle India, a unit of packaged food giant Nestle SA, said an officer.

A year after Maggi made a comeback following a ban of eight months, Nestle India is looking to consolidate its leadership position in the noodles segment, and re-grow the overall category that has shrunk due to trust issues with consumers over food safety.

Nestle said Maggi noodles in India has reported sustained recovery, regaining market share in the country almost a year after it was relaunched following a five-month ban in 2015.

The Supreme Court today gave its nod to Nestle India and FSSAI to destroy 550 tonnes of recalled stocks of Maggi noodles which have passed shelf life and are in the possession of the company and the food regulator.

The Supreme Court would next week hear Nestle India's plea seeking its nod to destroy about 550 tonnes of recalled stock of Maggi noodles which have passed shelf life.

Within nine months of its re-launch, Maggi noodles now accounts for 57.1 per cent market share of the instant noodles segment riding on its marketing /branding initiatives and new variants.

Global food and nutrition giant Nestle said it has regained leading market share after growth in India turned positive in June on good progress with relaunch of Maggi noodle.

Rebounding from losses after ban on its Maggi noodles last year, FMCG major Nestle India on Friday reported net profit of Rs 230.84 crore for the second quarter ended June 30.

Besides its instant noodles variants Nestle India plans to bring 25 new products in the market.

Having 'weathered' the Maggi storm, Nestle India is embarking on a product offensive, launching up to 25 products across various categories to fend off 'disruptive competition' from new rivals like Patanjali.

Higher-than-expected margins in March quarter drove Nestle India shares 7 per cent higher on Friday. Nestle India's EBITDA (Earnings before interest, taxes, depreciation and amortization) margin of 22.8 per cent was 350 basis points higher sequentially and ahead of Street estimates.

With Maggi back on shelves, Swiss FMCG major Nestle today said its India business is "recovering faster than anticipated" although the performance will continue to impact the company's showing in Asia, Oceania and sub-Saharan Africa (AOA) zone.

FMCG major Nestle on Monday said its popular Maggi has cleared tests conducted by Central Food Technological Research Institute (CFTRI) under a Supreme Court directive, reiterating that its instant noodles brand is safe for consumption.

Nestle India reported a net profit of Rs 539 crore in the first quarter of the current fiscal, compared to Rs 486 crore in the corresponding quarter last year, marking a growth of 11 per cent year-on-year.

Nestle India Limited, makers of Maggi instant noodles, on Wednesday said it does not use ash in making the snack as it responds to allegations that some samples of the product were found "contaminated" by food safety officials in Uttar Pradesh's Shahjahanpur district

The court also slapped a Rs 26 lakh fine on the distributors of Nestle India, a unit of packaged food giant Nestle SA, said an officer.

A year after Maggi made a comeback following a ban of eight months, Nestle India is looking to consolidate its leadership position in the noodles segment, and re-grow the overall category that has shrunk due to trust issues with consumers over food safety.

Nestle said Maggi noodles in India has reported sustained recovery, regaining market share in the country almost a year after it was relaunched following a five-month ban in 2015.

The Supreme Court today gave its nod to Nestle India and FSSAI to destroy 550 tonnes of recalled stocks of Maggi noodles which have passed shelf life and are in the possession of the company and the food regulator.

The Supreme Court would next week hear Nestle India's plea seeking its nod to destroy about 550 tonnes of recalled stock of Maggi noodles which have passed shelf life.

Within nine months of its re-launch, Maggi noodles now accounts for 57.1 per cent market share of the instant noodles segment riding on its marketing /branding initiatives and new variants.

Global food and nutrition giant Nestle said it has regained leading market share after growth in India turned positive in June on good progress with relaunch of Maggi noodle.

Rebounding from losses after ban on its Maggi noodles last year, FMCG major Nestle India on Friday reported net profit of Rs 230.84 crore for the second quarter ended June 30.

Besides its instant noodles variants Nestle India plans to bring 25 new products in the market.

Having 'weathered' the Maggi storm, Nestle India is embarking on a product offensive, launching up to 25 products across various categories to fend off 'disruptive competition' from new rivals like Patanjali.

Higher-than-expected margins in March quarter drove Nestle India shares 7 per cent higher on Friday. Nestle India's EBITDA (Earnings before interest, taxes, depreciation and amortization) margin of 22.8 per cent was 350 basis points higher sequentially and ahead of Street estimates.

With Maggi back on shelves, Swiss FMCG major Nestle today said its India business is "recovering faster than anticipated" although the performance will continue to impact the company's showing in Asia, Oceania and sub-Saharan Africa (AOA) zone.

FMCG major Nestle on Monday said its popular Maggi has cleared tests conducted by Central Food Technological Research Institute (CFTRI) under a Supreme Court directive, reiterating that its instant noodles brand is safe for consumption.