Maggi, Kitkat continue to be fan favourites; remain Nestle’s golden egg laying hen

By: |
Updated: February 15, 2019 4:06:54 PM

Nestle had lost some popularity after speculations were rife against its leading product -- Maggi -- containing lead.

In a big relief to Nestle India, the Supreme Court on Thursday allowed a test report to be the basis of proceedings in a three-year-old class-action lawsuit over MSG, lead content in Maggi.Maggi, along with the company’s other popular products — KitKat and Munch chocolates, has been the fan favourite.

Nestle India quarterly results are out and so is the verdict on the popularity of its brands such as Maggi and KitKat. Maggi, along with the company’s other popular products — KitKat and Munch chocolates, has been the fan favourite for years now, and these products have driven Nestle India’s success this year as well.

“Brands like Maggi, Nescafe, KitKat, Munch and Everyday continued to deliver strong performances,” Suresh Narayanan, chairman and managing director, Nestle India said in a statement post its Q4 results.

He added that there was “double-digit growth in almost all the categories, supported by a step up in demand generating activities including on new products.”

Also Read: TRAI’s new DTH, cable pricing rules: BARC holds back TV viewership data till further notice; check details

For October-December 2018 quarter, Nestle has recorded a 9.6% increase in its net profit. At Rs 341.76 crore, the profit is higher than last year’s Rs 311.83 crore. The company also crossed Rs 11,000 crore turnover. The yearly net profit of the company stood at Rs 1,607 crore.

The brand had also introduced a plethora of new products in 2018 including Nescafé Ready-to-drink Cans, Nesplus, Maggi Nutri-licious Baked Noodles, Maggi Dip & Spread, Nescafé É Smart Coffee Machine and Everyday Chai Life, the press release said.

Nestle had lost some popularity after speculations were rife against its leading product — Maggi — containing lead. The company got embroiled in the lead controversy during the May of 2015 after authorities reported the presence of MSG in a sample of its leading product Maggi. The company had reported June 2015 that after extensive testing, no lead was found in the product. However, due to growing unrest, the company was compelled to take the product off the market.

In 2019, Maggi again popped up in news conversations as Supreme Court quashed interim orders passed by National Consumer Disputes Redressal Commission (NCDRC) in Maggi Matter. Nestle India is a unit of Swiss brand Nestle SA.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop