‘Nes­tle In­dia Could Have Lost 100 cr in Sales Last Qtr’

Chair­man says over­all de­mand has taken a hit

The Economic Times - - Companies: Pursuit Of Profit - Our Bureau

New Delhi: Nes­tle In­dia could have lost ₹ 100 crore in sales in the last quar­ter of 2016 due to de­mon­eti­sa­tion, chair­man Suresh Narayanan said.

“Last quar­ter, we could have lost a bil­lion (ru­pees) of sales... Prob­a­bly, we will have to wait two quar­ters at least to get a full idea of what it (the im­pact) is (on the FMCG in­dus­try) —whether it is long last­ing or it is just a blip,” he said.

Narayanan said the im­pact of the note ban is not so much on the FMCG in­dus­try but on the over­all de­mand, which has been af­fected due to the shut­ting down of in­dus­tries, job losses and other fac­tors. How­ever, there were pos­i­tive things such as good mon­soon and the sev­enth pay com­mis­sion, which could help in the re­vival. The com­pany on Mon­day launched en­ergy drink Milo in a ready to drink for­mat with less sugar. The drink, which was ear­lier avail­able in pow­der for­mat, was scrapped in In­dia some­time back. Narayanan said the mar­ket has since moved sig­nif­i­cantly to­wards liquid milk-based prod­ucts.

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