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FMCG major has rejected allegations circulating on social media regarding the alleged presence of infestation in Maggi noodles, asserting that laboratory tests on a batch and market samples confirmed that products met all quality and food safety standards. In a clarification submitted to stock exchanges, the company said it was made aware of the complaint through the Food Safety and Standards Authority of India (FSSAI) following concerns raised by an unverified account on social media platform X. "We categorically reject allegations circulating on media basis an unverified account regarding the presence of infestation, allegedly on MAGGI noodles," said Nestle India in response to a query from the NSE and the BSE on a media report published on June 12. The company said it is "yet to receive" any sample from the complainant for assessment, and did not receive any response from them while the social media account remained unreachable. "As part of standard procedure, the reference samp
Startups and regional brands are not only good for providing variety to consumers but also give established players the push to improve their product offerings, Nestle India's outgoing Chairman & Managing Director Suresh Narayanan said. Stressing on the importance of startups and regional brands operating in small catchment areas, Narayanan said Nestle India is working with startups as part of its accelerator program, to identify their potential and see how to partner with them. "Startups and regional brands are good for the business. They do two things -one, they extend the variety for the consumer, and secondly, they give us additional inspiration for improving, making ourselves faster and smarter," Narayanan told PTI during an interview earlier this week. According to Narayanan, today every brand has to be relevant to Gen Z and Gen Alpha consumers, who do not give much importance to the historical relevance of brands. "It goes by what is in it for me, so Maggi noodles have to ..
Nestle India Ltd on Thursday reported 6.5 per cent decline in consolidated net profit at Rs 873.46 crore for March quarter FY25 as the FMCG industry faced food inflation and moderation in urban consumption. The company posted a profit of Rs 934.17 crore for the January-March period a year ago, according to a regulatory filing from Nestle India. Revenue from the sale of products was up at Rs 5,447.64 crore in the quarter as against Rs 5,254.43 crore a year ago. "Total sales and domestic sales for the quarter increased 3.7 per cent and 4.2 per cent, respectively. Domestic sales growth was broad-based. Domestic sales crossed Rs 5,235 crore, the highest ever, surpassing that of JanuaryMarch 2024 quarter," said Nestle India, which owns popular brands as Maggi, Nescafe and Kit Kat. However, exports were down 8.65 per cent to Rs 212.66 crore in Q4 FY25 due to commodity headwinds in coffee. In March quarter, total expenses of Nestle India were at Rs 4,307.76 crore. Revenue from operation