For the first time in over 3 decades Nestle reports a loss of Rs 64.4 crore for the April-June period, compared to a net profit of Rs 287.9 crore the year-ago quarter
Nestle recalled its popular Maggi instant noodles brand hours before the national food regulator, Food Safety and Standards Authority of India (FSSAI), banned its sale nationally based on some tests that allegedly found more than permissible levels of lead in the product, alleged mislabelling on packs that declared 'no added MSG' and for selling Maggi oats masala noodles without product approval from the regulator.
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