 "A vendor works at a roadside Maggi noodles eatery in Ahmedabad")
Fast moving consumer goods (FMCG) major Nestlé India’s net profit went down 8.7 per cent year on year (y-o-y) in the December quarter to Rs 167.3 crore, from Rs 183.2 crore earlier. This is its lowest quarterly net since the September quarter of 2015, when sales were severely hit after a ban on its flagship product, Maggi instant noodles.
Net sales grew 16.2 per cent over a year to Rs 2,261 crore, backed by 16.9 per cent growth in domestic sales, while exports grew 7.9 per cent.
