- Wealth PMS
Nestle’s been badly hit with the Maggi controversy and continues to be in bad shape. Profits are down 60% while revenues fell 32% (year on year) in the quarter.
(Figures are Rs. Million)
They have apparently resumed production of Maggi and are awaiting results of tests in order to start sales.
Nestle has been under pressure ever since the Maggi crisis came about. The stock, though, hasn’t fallen quite as much as the 60% fall in profit:
Disclosure: No positions, no connections with Nestle.