Swiss FMCG major Nestle reported 2.5% decline in its consolidated net profit at 4.51 billion Swiss francs for the first half of 2015 reportedly due to the ban on Maggy in India.
Nestle said its consolidated sales were also down marginally at 42.84 billion Swiss francs in the first half of the year as against 42.98 billion Swiss francs in the year-ago period.
Sales and trading operating profit margin in Asia, Oceania and sub-Saharan Africa was affected by the withdrawal and destruction costs of the returned products in India, which have already had a material impact in the first half of the year.