Ban on Maggi instant noodles lead to Nestle India reported a standalone loss of Rs 64.40 crore for the quarter ended on June 30, 2015, its first quarterly loss in over three decades.
ITC\\\'s brand, before the controversy was authoritative 18 to 20 per cent of the whole market share. But after the storm on Maggi, the market was shrunken as the consumers became suspicious of the products.
\"The company has made relentless efforts in building world class brands, which had garnered an annual consumer, spend of Rs 11,000 crore,\" added Deveshwar.
Nestle has been at the centre of India\\\'s worst food scare in a decade after local regulators reported that some packets of the company\\\'s Maggi instant noodles -- one of India\\\'s most popular snacks -- contained dangerous levels of lead.
FSSAI had earlier argued that it had not banned Maggi, but only asked the company to stop the manufacture and sale as it contained lead beyond the permissible limit.
Nestle had already announced it was pulling the product from sale when the Food Safety and Standards Authority of India imposed a ban following similar moves by some state governments.