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The quarter that ended on March 31 wasn’t a good one for <keyword id="6356830" type="CITY" weightage="100" keywordseo="Nestle-India">Nestle India</keyword>, with the Swiss Trans-national F&amp;B company reporting a 19% decline in net profit. The result is a loss of the ban that flagship instant noodles <a href="http://www.businessinsider.in/Maggi-is-in-trouble-again/articleshow/51344594.cms">Maggi</a> faced in the country. 
 
As per the company statement, net profit for the quarter was Rs 259 crore as compared to Rs 320 crore for the corresponding quarter in 2015. 
 
"Results for the quarter have been impacted by the Maggi noodles issue in 2015," the company said in a statement. 
 
Talking of net sales, they dipped 8.5% to Rs 2,296 crore, which was below what analysts had estimated. Not only this, the company's total expenditure too fell 7.2% and stood at Rs 1,856 crore during the quarter. 
 
For the quarter that ended on December 31, 2015, <a href="http://www.businessinsider.in/WATCH-Nestles-new-ad-featuring-Sania-Mirza-andShoaib-Malik-is-adorable/articleshow/51409354.cms">Nestle India</a> had reported 43.8% year-on-year decline in net profit at Rs 183.19. 
 
The ban on Maggi was placed by the Food Safety &amp; Standards Authority of India (FSSAI) had banned after allegations that it contained more lead than allowed, and that the label didn’t provide the correct information regarding the flavour enhancer MSG (monosodium glutamate). It had taken five months for Maggi to <a href="http://www.businessinsider.in/It-will-take-Nestle-3-years-to-undo-the-Maggi-damage-in-India/articleshow/51120095.cms">return to markets</a>. 
 
Also read: <a href="http://www.businessinsider.in/Nestle-in-trouble-again-for-sub-standard-Maggi/articleshow/51619084.cms">Nestle in trouble again for alleged 'sub-standard' Maggi</a> 
 
Nonetheless, the company is treading on the road to recovery, with <a href="http://www.businessinsider.in/Nestle-CEO-says-Maggi-is-recovering-faster-than-expected-after-a-five-month-hitch/articleshow/51837924.cms">Maggi regaining leadership</a> with over 50% share within five months of the re-launch last year. However, its market share is much lower as compared to what it had before being banned, which was more than 75%. 
 
<a href="http://images.says.com/uploads/story_source/source_image/394038/cca6.jpg">Image source</a>

Nestle India is yet to recover from the Maggi ban, reports 19% slip in net profits

<keyword id="75190" type="CITY" weightage="100" keywordseo="Nestle">Nestle</keyword> India wants to manufacture <keyword id="726194" type="UNKNOWN" weightage="100" keywordseo="maggi-noodles">Maggi noodles</keyword> at all plants after it resumed production at three of its plants - Nanjangud (Karnataka), Moga (Punjab) and Bicholim (Goa) - in the country. 
 
The company is discussing the matter with state authorities. 
 "In compliance with the orders of the High Court of Bombay, fresh samples from these newly manufactured batches will be sent for testing to the three accredited laboratories mandated by the High Court," Nestle said in a communique to the <keyword id="35140" type="CITY" weightage="80" keywordseo="BSE">BSE</keyword>. 
 
The company, however, said that it would start the sale of Maggi noodles only after clearance from these three laboratories. 
 
The Bombay Stock Exchange (BSE) earlier sought clarification from Nestle over media reports on resumption of Maggi noodles production. 
 In June, Nestle India was forced to withdraw Maggi from market and stop production following tests by certain labs allegedly finding <keyword id="23204" type="PERSON" weightage="40" keywordseo="lead">lead</keyword> and MSG beyond permissible limits. 
 This was followed by a ban on Maggi noodles by the Food Safety and Standards Authority of India (<keyword id="154680" type="ORGANIZATION" weightage="100" keywordseo="FSSAI">FSSAI</keyword>), which said the noodles were "unsafe and hazardous" for consumption. 
 
The company had withdrawn the instant noodle brand from the market. 
 
Nestle India, took a hit of Rs 450 crore, including destroying over 30,000 tonnes of the instant noodles since June. 
 
The company has said that it would continue with the existing formula of the product and would not change their ingredients. 
 
After the ban was imposed, Nestle India had reported a standalone loss of Rs 64.40 crore for the quarter ended June 30, 2015, its first quarterly loss in over three decades. 
 
It had posted a net profit of Rs 287.86 crore during the April-June quarter of 2014-15. 
 
(Image: Reuters)

The day for Maggi to be back on shop shelves isn’t far, production to soon resume in all plants!

<a href="http://www.businessinsider.in/searchresult.cms?query=nestle+india">Nestle India</a> has sent fresh samples of <a href="http://www.businessinsider.in/searchresult.cms?query=maggi">Maggi noodles</a> for testing as it resumed production of Maggi recently. This means the instant 2-minute noodles will be back on sale December onwards. 
 The Bombay High Court recently had directed <keyword id="6356830" type="CITY" weightage="20" keywordseo="Nestle-India">Nestle India</keyword> to also get fresh samples of Maggi noodles tested by the labs and once they get the approval, Maggi will be back with new packaging, instructions and old taste. 
 
Production of Maggi noodles has, reportedly, resumed in Karnataka, Punjab and Goa. 
 
Maggi noodles was banned in India in June after MSG and excess content of lead was found in the packets. 
 
This dented the image and revenue sales of Nestle India as Maggi used to be its biggest brand, accounting for about 30% of sales at the company. 
 
However, it is expected that Nestle India’s Maggi will recover the losses. The company has started rigorous advertising for Maggi's return. 
 
Edelweiss in a note stated "We appreciate the company's effort to up the ante on advertising and promotions, but this will depress margins in the coming quarters. We believe Nestle is unlikely to garner the earlier 70% share of the noodle pie.” 
 
(Image: Indiatimes)

Maggi will be back in December!

Suppliers of spices and flour to <keyword id="6356830" type="CITY" weightage="20" keywordseo="Nestle-India">Nestle India</keyword> are in the mid of nowhere ever since the instant <keyword id="6369404" type="PERSON" weightage="20" keywordseo="Maggi">Maggi</keyword> noodles got banned from the Indian market. Following cancelled orders, unpaid bills and uncertainty over the future of business with <keyword id="75190" type="CITY" weightage="20" keywordseo="Nestle">Nestle</keyword> India, suppliers are facing a loss of Rs 15 crore every week. 
 As per a report published in Economic Times, <keyword id="2900210" type="UNKNOWN" weightage="20" keywordseo="Paras-Spices">Paras Spices</keyword>, a Punjab-based firm which has been working with Nestle since last three decades and supplies close to 200 tonnes of spices to Nestle every month, has retrenched around 300 temporary workers in its production unit. The firm that earns around 40% of its revenue from Nestle has shut the production lines catering to Nestle. "The ban has affected us both in terms of volumes and value," said Mahesh Pathak, Business Head, Paras Spices. 
 
If reports are to be believed, about 70-80 flour mills across nation, which supplies nearly 1,800 tonnes of flour every day to Nestle's five plants, have also been hit hard. 
 
“Nestle has not just cancelled its orders, but it has also asked the suppliers to take back their previous supplies because it doesn’t uses food items older than six days,” said VK Bansal, senior Vice-President at Roller Flour Millers' Federation of India. "The company officials are not available since the crisis began," Bansal informed. 
 
Analysts expect Nestle to recover from the crisis in the long term and put Maggi noodles back on retail shelves. But they doubt if the Rs 2,000-crore brand will remain as popular as it has been because the product ban may impact consumer perception about its safety and health benefits.

Maggi Ban: Wheat, spices suppliers facing Rs 15 crore loss every week

Here’s some good news for <a href="http://www.businessinsider.in/searchresult.cms?query=maggi">Maggi</a> lovers. The instant noodles cleared all tests from laboratories mandated by the Bombay High Court. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=nestle+india">Nestle India</a>, in a statement said, “All the 90 samples, covering 6 variants, tested by these laboratories are clear with lead much below the permissible limits.” 
 
It said that the company will start manufacturing and will start selling only after the newly manufactured products are also cleared by the designated three laboratories. 
 
READ ALSO: <a href="http://www.businessinsider.in/Maggi-is-safe-Trust-me-trust-my-brand-says-Nestle-Indias-new-MD/articleshow/48234912.cms">‘Maggi is safe. Trust me, trust my brand,’ says Nestle India’s new MD</a> 
 <keyword id="6356830" type="CITY" weightage="20" keywordseo="Nestle-India">Nestle India</keyword> claimed that it has conducted over 3500 tests representing over 200 million packs in both national as well as international accredited laboratories and all reports are clear. 
 
The <a href="http://www.businessinsider.in/searchresult.cms?query=FSSAI">FSSAI</a> had banned sale of Maggi noodles in India, saying it contained excessive lead levels and MSG. 
 
When Maggi was recalled, it cost Nestle Rs 320 crore and another Rs 1,270 crore in brand loss according to global valuation consultancy Brand Finance.

Maggi is COMING BACK!

The Food Safety &amp; Standards Authority of India (<keyword id="154680" type="ORGANIZATION" weightage="80" keywordseo="FSSAI">FSSAI</keyword>) along with several states banned <keyword id="75190" type="CITY" weightage="80" keywordseo="Nestle">Nestle</keyword>'s <keyword id="6369404" type="PERSON" weightage="80" keywordseo="Maggi">Maggi</keyword> instant noodles in June, but the company did not get some of the test reports based on which authorities banned the popular noodles in the country, a company executive told the Economic Times. 

	Moreover some of the reports were not shared with Nestle before the announcement of the ban and they have now started trickling in, he added. 
 

	A company spokesperson revealed that no test reports were sent to it before June 5, 2015 when the ban was announced, except one from a Kolkata laboratory for a single sample of Maggi noodles sent by the Uttar Pradesh FDA in April. 
 

	"...and for that report, we had made our representation on the improper testing procedure," the spokesperson said in an email, responding to questions from ET. 
 

	The ban proved to be detrimental for the company. Maggi raked in over Rs 2,000 crore in annual revenue for the company. While that has stopped now, it spent Rs 320 crore to recall the product. 
 

	Global valuation consultancy Brand Finance estimates another Rs 1,270 crore in brand loss. Nestle claims it did not get a chance to explain its stand before FSSAI and state authorities that banned the product alleging excessive levels of lead in it and mislabeling on the pack. 
 

	According to industry experts, it was unfair not to share the test reports with the company before taking such an action. 
 

	Moreover, the delay in sharing results raised questions on the test procedures, since the UK, Singapore and Canada have found Maggi imported from India safe to eat. 
 "The way the matter played out was unfair to Nestle. The company wasn't given a chance to prove themselves," said <keyword id="2867937" type="UNKNOWN" weightage="80" keywordseo="Ashwin-Bhadri">Ashwin Bhadri</keyword>, chief executive at <keyword id="1459500" type="COMPANY" weightage="60" keywordseo="Equinox-Labs">Equinox Labs</keyword>, which specialises in food testing and works closely with FSSAI on food safety compliance. 

	"Unfortunately, the issue isn't just about Maggi anymore. The controversy has had a global impact and the world is looking at India brands through the scanner,” he added. 
 

	Nestle executives raised the issue at a meeting they had with FSSAI officials on Wednesday. 
 

	An FSSAI representative present at the meeting said ideally the company should have received a letter informing it about the product not clearing the tests done and the reports of the tests should also have been shared with it. 
 

	Nestle announced that it was withdrawing Maggi noodles on June 5. But, on the same day FSSAI ordered the company to recall and stop manufacturing the product. 
 The company later approached the <keyword id="48485" type="ORGANIZATION" weightage="80" keywordseo="Bombay-high-court">Bombay High Court</keyword> to seek clarity on the interpretation of the Food Safety and Standards Act. 
	(Image: Reuters)

Foul play with Maggi? Nestle says FSSAI didn’t share test results with it

Mumbai, Dec 23 () Equity benchmarks Sensex and Nifty on Monday closed marginally lower as emergence of sell-off mainly in heavyweight Reliance Industries put brake on indices' four-session record breaking run.
 The 30-share BSE Sensex settled 38.88 points, or 0.09 per cent, down at 41,642.66, while the broader NSE Nifty slipped 9.05 points, or 0.07 per cent, to close at 12,262.75.
 Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index.
 Reliance Industries (RIL) fell 1.78 per cent after the government sought to block the company's plan to sell stake to Saudi Aramco.
 Last week, the government moved the Delhi High Court seeking to block Reliance selling 20 per cent stake in its oil and chemical business to Saudi Aramco for USD 15 billion, in view of pending dues of USD 3.5 billion in Panna-Mukta and Tapti oil and gas fields.
 SBI, Tech Mahindra, ITC and Mahindra and mahindra were among the other losers on the index.
 On the other hand, gains in Maruti, Hero MotoCorp, Kotak Bank, Bajaj Auto and Bajaj Finance restricted the losses on the index.
 According to traders, the Sensex reshuffle led to some price movements as fund managers adjusted their portfolios.
 Yes Bank, Vedanta, Tata Motors and Tata Motors DVR have exited the index to make way for Titan Company, UltraTech Cement and Nestle India.
 Bourses in Shanghai and Seoul ended on a negative note, while those in Hong Kong and Tokyo settled in the green.
 Equity benchmarks in Europe were trading on a tepid note in their respective early sessions.
 On the currency front, the rupee depreciated 4 paise against the US dollar to 71.16 (intra-day).
 Brent futures, the global oil benchmark, slipped 0.05 per cent to USD 66.11 per barrel. ANS
MKJ

Market snaps 4-day record-setting spree, ends marginally lower

<ul><li>The 30-share BSE index Sensex was down 150 points, and the NSE Nifty was trading 0.40% lower at 9:55 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices opened on a choppy note on Monday, tracking losses in index majors Reliance Industries, ICICI Bank and Tata Steel. The 30-share BSE index Sensex was down 150 points, and the NSE Nifty was trading 0.40% lower at 9:55 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RIL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td></tr></tbody></table>*as of October 26, 10:15 am These are the top stocks in news today. IndusInd Bank soars 3%, Kotak Mahindra Bank trades flat The shares of IndusInd Bank gained over 3% after the bank refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank is looking at acquiring the bank. The shares of Kotak Mahindra Bank were also trading flat during the early session on Monday. Tech Mahindra slips over 2% The shares of Tech Mahindra shed over 2% after the company <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms">reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. However, the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. Nestle India up 3% post Q2 numbers The shares of Swiss multinational company Nestle’s Indian subsidiary were trading 3% higher after the September quarter result. The company reported a 1.37% year-on-year fall in net profit at ₹587.09 crore for the quarter ended September 30. However, the numbers were better than the<a href="https://economictimes.indiatimes.com/markets/stocks/earnings/nestle-q3-results-net-profit-flat-at-rs-587-cr-beats-estimates-firm-announces-interim-dividend-of-rs-135-per-share/articleshow/78830180.cms"> street’s expectations</a>. YES Bank leaps 5% The shares of YES Bank gained over 5% after the private sector lender reported a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. RIL, Future Retail fall after Singapore-based arbitration panel decision The shares of Reliance Industries and Future Retail <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms">cracked </a>2% and 6%, respectively, after a Singapore-based single judge arbitration panel asked Future Group to stall its retail business deal with RIL. The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. Tata Motors shares up 2% The shares of Tata Motors gained over 2% after the company told investors that it had bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

You Searched For "nestle india losses" and got 8 results

Nestle India is yet to recover from the Maggi ban, reports 19% slip in net profits

BI India Bureau

The day for Maggi to be back on shop shelves isn’t far, production to soon resume in all plants!

BI India Bureau

Maggi will be back in December!

BI India Bureau

Maggi Ban: Wheat, spices suppliers facing Rs 15 crore loss every week

BI India Bureau

Maggi is COMING BACK!

BI India Bureau

Foul play with Maggi? Nestle says FSSAI didn’t share test results with it

BI India Bureau

Market snaps 4-day record-setting spree, ends marginally lower

PTI

Top stock movers — Kotak Mahindra Bank, IndusInd Bank, Tata Motors, Nestle India, Tech Mahindra, YES Bank and others

Navdeep Yadav

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