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.