Nestle net profit increases 11 per cent; Maggi plant to come up in Gujarat

Hospibuz

05 Aug 2019 06:40 IST

New Update

Nestle net profit increases 11 per cent; Maggi plant to come up in Gujarat

Packaged foods maker Nestlé India on Friday said it will set up a new plant in Gujarat — its ninth factory in India — for instant noodle brand Maggi with an initial investment of ₹700 crore.

For the April-June quarter, Nestlé India reported net profit increase of 11% from the year-ago quarter, at ₹438 crore, led by sales and volumes growth. Net sales were up 11.35% to ₹2,982.8 crore on-year, it said.

Maggi is currently manufactured at three plants. Fresh investments will pan out over two years, it said.

Source:- https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/nestle-net-profit-increases-11-per-cent-maggi-plant-to-come-up-in-gujarat/70506949

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