Nestle India, which manufactures products like chocolate, maggi, milk powder, stated on Thursday that the corona virus epidemic had no significant impact on its business activities so far, whereas the company will continue to assess the impact of the health crisis and lockdown given the situation.
In a notice to the stock market, Nestle India said that the company is not looking at any specific challenge in terms of capital or financial resources or there is no adverse impact on profit. Nestle India, a subsidiary of Nestlé, a Swiss company, said it had no cash problems and was in a position to meet its financial obligations.
Nestle India further stated that the Covid-19 epidemic has not yet shown any significant impact on the company's business activities, it is currently difficult to assess its impact on the near future and annual results but the company will continue to assess the impact of the corona virus epidemic according to the situation. According to the company, it has started functioning in all its manufacturing plants and distribution centers / warehouses and activities are being increased by adopting stringent protective measures with social distance.
Demand for most of Nestle India's products remains high and the emphasis is on ensuring supply of products to customers at present. On the impact of the corona virus crisis, the company said it is currently difficult to assess its impact on the near future and annual financial results, besides this following the January-December financial year, the company's net profit rose 10.84 per cent to Rs 525.43 crore in January-March this year, while its net sales stood at Rs 3,305.78 crore.
