 "The Nestle logo is pictured on the company headquarters entrance building in Vevey, Switzerland")
Nestlé India has beaten the blues of demonetisation and recovered, led mostly by its popular instant noodles Maggi, the company said in an earnings conference call (con-call).
Prime Minister Narendra Modi had announced the demonetisation of old Rs 500 and Rs 1,000 notes on November 8 last year. This had led to a severe cash crunch in the economy, hitting demand for consumer goods.
For the December 2016 quarter, Nestlé India had reported a nearly 9 per cent decline in standalone net profit. It had fallen to Rs 167.3 crore for the quarter, compared to Rs 183.2 crore for the same period
