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Nestle Sees a 60% Drop in Profit as The Lack of Maggi Continues To Hurt

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)

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They have apparently resumed production of Maggi and are awaiting results of tests in order to start sales.

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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:

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Disclosure: No positions, no connections with Nestle.

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