Nestle India reports Q2 loss as noodle scare hits sales

July 29, 2015 11:59 AM

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MUMBAI, July 29 Nestle India Ltd, battling a reputational crisis after a food scare, slipped into a loss in the June quarter, as sales plunged after its hugely popular Maggi noodles were pulled off shelves over safety concerns.

The unit of Swiss food giant Nestle SA said on Wednesday that net loss for its second quarter ended June was 644 million rupees ($10 million), compared with a profit of 2.88 billion rupees a year earlier. Sales fell 20 percent to 19.34 billion rupees.

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